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Wikipedia
If you bought a home in Miami in 2005, we're sorry: over the following six years it depreciated in value by more than 54.3%.
2011-06-30
And the rebound -- if there is a rebound -- won't come soon.
Between Q2 2011 and Q2 2016, Miami home prices will decline at an annualized rate of 0.7%, according to data provided by Fiserv Case Shiller.
Fiserv identified 15 housing markets that will appreciate at an annualized rate of less than 1.5% -- a pretty lousy investment. If you stay out of these markets, the national average is slightly better at 3.7%. [Note: The data has been corrected for Midland, Texas.]
The worst place to invest: Miami, Florida
Wikipedia
Cumulative growth from 2005 to 2011: -54.3%
Annualized growth from 2011 to 2016: -0.7%
Trough: Q3 2012
Data provided by Fiserv Case Shiller Indexes.
The second worst place to invest: Atlantic City, New Jersey
Cumulative growth from 2005 to 2011: -34.05%
Annualized growth from 2011 to 2016: 0.2%
Trough: Q3 2012
Data provided by Fiserv Case Shiller Indexes.
The third worst place to invest: Nassau County, New York
Cumulative growth from 2005 to 2011: -27.3%
Annualized growth from 2011 to 2016: 0.7%
Trough: Q4 2011
Data provided by Fiserv Case Shiller Indexes.
#4 (tie) Fort Lauderdale, Florida
Cumulative growth from 2005 to 2011: -52.9%
Annualized growth from 2011 to 2016: 0.8%
Trough: Q4 2012
Data provided by Fiserv Case Shiller Indexes.
#4 (tie) Midland, Texas
Cumulative growth from 2005 to 2011: 40.9% [Note: This figure has been corrected to +40.9 from -40.9.]
Linette was a senior correspondent at Business Insider who focused her writing on tech, finance and economics as well as international relations. She also conducted investigations into controversial companies, like Tesla.She joined BI in the summer of 2011 after graduating from Columbia University's School of Journalism and holds a BA from Columbia University, where she finished her undergraduate education in 2008.In 2017 she won the Folio 'Rising Star' award for top women in media. In 2020 she won the 'Excellence in Financial Journalism' Award in opinion writing from NYSSCPA for a piece on US-China relations, 'The Huawei indictment marks the end of US and China's cycle of trust.' In 2023 she won the New York Press Club award for commentary in digital journalism for a series of stories about the stock market's decline in 2022.She contributes to "Marketplace," a radio show from American Public Media, and can be seen on MSNBC and CNN.Some stories by Linette:
