Cities that had escaped the worst of housing bust are hurting now
Derek Kravitz and Alex Veiga, AP Business Writers, On Tuesday May 31, 2011, 5:40 pm EDT
WASHINGTON (AP) -- Even cities that weathered the housing market crash with relatively little damage are suffering now.
Severe price declines have spread to Dallas, Denver, Minneapolis and Cleveland, which had mostly withstood the bust in housing since 2006. The damage has now gone well beyond cities hit hardest by unemployment and foreclosures, such as Phoenix and Las Vegas.
"We didn't enjoy the highs and the lows like other cities," said Kay Weeks, a Realtor with Ebby Halliday in Dallas, where prices fell nearly 1 percent in March and are expected to keep falling. "But when we get bad news nationally, people take notice and cut back on spending and buying homes."
Complete article found at: http://finance.yahoo.com/news/Cities-that-weathered-housing-apf-3276336717.html?x=0