If you are thinking of investing in real estate it is always important to know where not to buy. Here is a list of the 10 worst places to purchase real estate.
| 1. | St. Louis, MO - Appreciation for new homes = -5.3%; Appreciation for Existing Homes = -28.6% |
| 2. | Pheonix, Arizona - Total Price Appreciation 2003 to 2005: -22.3% |
| 3. | Chicago, Ill - Appreciation for new homes =-45% ; Appreciation for Existing Homes = -11.3% see the rest of the Top 10 list here: http://www.listafterlist.com/tabid/57/listid/6034//Worst+Neighborhoods+to+Purchase+Real+Estate.aspx |
Ryan-First, your data is completely inaccurate. According to OFHEO, St. Louis is up 1.6% now down.
ReplyDeleteMLS data shows flat to 1% appreciation.
CNN/MONEY recently listed St. Louis as the #3 are to buy. 80% affordability rating.
Looks like your data is flawed and probably applies to some market where prices ran up 20-30% - Unlike the steady 4-5% in St. Louis.