Fortune Magazine has projected the 10 markets in the country that will perform the worst in the coming 2 years. While this does not seem surprising as the markets that are listed have been some of the most volatile in the country, it is interesting to note that last years conventional wisdom list of markets that will crash and burn are no where near this list.
Where are Boston, Washington D.C., and Phoenix. To hear the talk last year these markets were dead and buried. Oh, well, as those guys on TV say, we report, you decide.
Market 2007 Change 2008 Change
Stockton, Calif. -7.1 percent -5.3 percent
Las Vegas -6.6 percent -8.1 percent
Bakersfield, Calif. -5.5 percent -6.6 percent
Santa Ana-Anaheim, Calif. -5.5 percent -4.5 percent
Los Angeles-Long Beach -5.4 percent -4.6 percent
Miami-Miami Beach -4.9 percent -7.5 percent
Sarasota-Bradenton, Fla. -4.8 percent -0.8 percent
Oakland, Calif. -4.6 percent -2.4 percent
Fresno, Calif. -4.6 percent -4.3 percent
Fort Lauderdale, Fla. -4.3 percent -4.3 percent
Source: The Las Vegas Review Journal