Which Cities Likely Won't Rebound Anytime Soon?
June 19th, 2009
Texas cities Austin, San Antonio, Dallas and McAllen have not seen any economic growth so far this year. They were considered focal areas of the massive real estate bubble of the past few years. Once skyrocketing home prices in these Texas cities are to blame for a slow recovery.
Texas is not alone, however. Several key California cities will also have a difficult time in rebounding from the economic troubles. Fresno, Modesto, Salinas, Bakersfield, Stockton and Los Angeles all also saw collapses in housing markets in the past couple of years.
There are many indicators nationwide that home prices might be stabilizing again; however in many cities in Texas and California will likely take years for their economies to turn around.
