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Large Metros with the Highest Percentages of Underwater Homes
Rank -- Region -- Negative Equity Percent of Homes w/ Mortgage
1. Las Vegas 68.5%
2. Atlanta 54.4%
3. Orlando 51.9%
4. Phoenix 51.6%
5. Riverside 51.2%
6. Jacksonville 51.2%
7. Sacramento 49.3%
8. Detroit 48.3%
9. Tampa 46.6%
10. Miami-Fort Lauderdale 43.7%
Map courtesy of Zara Matheson, data courtesy of Zillow.
Large Metros with the Lowest Percentages of Underwater Homes
Rank -- Region -- Negative Equity Percent of Homes w/ Mortgage
50. Buffalo 12.3%
49. Rochester 13.2%
48. Pittsburgh 15.6%
47. Oklahoma City 19.5%
46. Boston 19.6%
45. San Jose 20.3%
44. Louisville 20.6%
43. New York 20.7%
42. San Antonio 20.8%
41. Hartford 21.4%
Full article: http://www.theatlanticcities.com/housing/2012/08/geography-underwater-homes/3034/
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dougskiles
August 24, 2012, 06:50:18 AMAnd the solution is... Let's build more highways to open more land for more underwater homes to be constructed. And to accelerate that effort, make sure that we don't burden the developers with impact fees.
thelakelander
August 24, 2012, 07:27:00 AMYeah, when discussing what and won't the mobility fee moratorium will do, this is the part of the issue that moratorium proponents continue to ignore. Locally, we have an oversupply of the building product types that made several local developers rich over the last couple of decades. Simply cutting impact fees isn't going to stimulate a market where one doesn't exist. However, it does pass the cost of the impact to the average taxpayer, who now has been asked to further subsidize unsustainable development practices at the expense of their own home values.
JFman00
August 24, 2012, 08:51:12 AM+1
peestandingup
August 24, 2012, 09:00:55 AMWhich is why I honestly don't have high hopes for most of those places in the darker shades of blue. These maps say a lot more than just underwater homes. They're places that experienced unabated & artificial growth for decades. Sprawling messes with almost zero thought in how or even why they should be doing what they're doing. A very "fuck it" kind of attitude, where the main star of the show is development & keeping that whole racket going. Jax is a prime example of this, although they're def not the only ones.
Some will recover & turn it around, some won't. But I personally wouldn't want to stick it out in any of them. Areas that would do that regardless are probably not places that you'd wanna stake any claim in anyway. America has shown time & time again that its not very good at retracting this type of "boom growth". Building stuff is easy. Building with purpose & long term growth plans is where it gets tricky.
Ocklawaha
August 24, 2012, 09:03:20 AMOKLAHOMA CITY
DENVER
JACKSONVILLE
ANY QUESTIONS?
Investment in our infrastructure, primarily in the central core is the quickest way to create a demand. Returning to Jacksonville from Denver, OKC, Dallas or even Baton Rouge, is sort of like having been in a shopping mall full of your favorite stores, then returning home to find the home town unit is closed. Talk about taking the wind out of your sails!
Really, it is time for a downtown version in the form of 'BETTER JACKSONVILLE II,' extend the tax, invest and turn the core into a wonderland of family shopping, entertainment and attractions.
jcjohnpaint
August 24, 2012, 09:56:43 AMYeah and when Clay county says the Outer Beltway is going to boost their economy, it will:
be off the backs of Jacksonville
be short term growth with no substance
I would have to say that when it comes to smart planning- this city fails worse than most.
All of the people who try to make a difference are marginalized.
What I don't understand: This is not good for the taxpayer either. For a city that demands low taxes over EVERYTHING else- Where are these protesters to be found?
kellypope
August 24, 2012, 12:01:00 PM"You let a guy kick you 5 times, he's gonna kick you 5 times. You let him kick you 3 times, he's gonna kick you 3 times. You let him kick you twice, he's gonna kick you twice. You let him kick you once, he's gonna kick you once.
But if you cut off his foot, ain't gonna be anymore kicking."
copperfiend
August 24, 2012, 03:11:32 PMNice top picture of Windsor Park in this article. The main reason I say that is because my parents' house can be seen in it. Sort of bizarre to see that when I bring up the site.
thelakelander
August 24, 2012, 03:17:50 PM^Sometimes we have to mix it up and display imagery of Jax outside of the urban core.
copperfiend
August 24, 2012, 04:52:33 PMI understand. It was just weird to bring up your site and see a picture of my parents' house on it.
rippley408
August 25, 2012, 06:39:24 AMOcklawaha: The equivalent picture offered of Jacksonville should be The Landing, but, then, forget it, point well taken. I would have offered one of Berkman Plaza II.
mtraininjax
August 25, 2012, 09:24:40 AMOnly on MetroJax can you take any article and turn it into a debate on Fair Share and Road Fees, amazing!
What I find interesting about the map, besides the fact that most of the deep blue are in Sand States, NV, CA, FL, is that how well Texas has done, everyone talks about Texas as having good growth, stable growth, yet we are bumbling still with our governor. Can we trade Perry for our Executioner? He seems to be onto something good!
jcjohnpaint
August 25, 2012, 10:33:35 AMPerry for Scott. I would trade him for anyone! Get him the hell out of here!
kellypope
August 25, 2012, 06:47:15 PMAnswer: no.
danem
August 29, 2012, 08:12:58 PMWhen I first saw this headline, I thought this was about all the flooding we've been having lately.
CityLife
August 29, 2012, 08:27:00 PMYou can't compare Texas with Florida without digging a little deeper. All you need to know about Texas vs. Florida is the differences in endowments of the universities, which gives you an idea of how much more research/innovation, economic development, and attraction of great minds happens there. Think old oil money...
University of Texas 14.1 billion
Texas A&M 7 billion
Rice 4.5 billion
SMU 1.4 billion
TCU 1.2 billion
Texas Tech 891 million
University of Houston 598 million
Vs.
UF 1.2 billion
FSU 525 million
USF 339 million
UCF 125 million
FIU 138 million
FAU 156 million
FAMU 88 million
UNF 66 million
Miami 719 million
Rollins 261 million
Stetson 143 million
Flagler 60 million
Ju 30 million