May 23

Never is a long time

Economy Add comments

Business Insider has a list of 13 housing markets that will “never” recover.  Number 1 (worst) is Riverside, CA:

1. Riverside, CA. Housing prices are down 52% and unemployment is at 18%
image thumb41 Never is a long time

So what does “never” mean in investor terms?  10 years? 20 years?  I think it a safe bet that Riverside (and the other 12 places listed) will still suck in 10 years. 20 years… a lot can happen, but I’ll bet that the place never recovers due to continued outside pressures (like California’s crazy government, continued illegal immigration, and the Federal government’s economic collapse).

More simply put… what do you see that would cause any of this to improve?  All I see are bad decisions and bad pressures.

2 Responses to “Never is a long time”

  1. KevinG Says:
    May 23rd, 2010 at 5:22 pm

    That’s funny the picture for Reno is the LDS temple…
    I find it hard to believe that most/any residents would consider that picture as the main landmark of the city.

  2. Ken Says:
    May 23rd, 2010 at 5:52 pm

    an “eternal” housing market apparently…