08 Mar 10 years after housing crisis, some states still struggling to recover
Home prices in Illinois, Florida, Nevada and Arizona have failed to reach pre-recession levels, and today nearly 2.5 million residential properties remain in negative equity.
In the decade since the subprime housing crisis sunk the United States into recession, triggered the foreclosure of 1.2 million homes and caused the collapse of Lehman Brothers, home values across the West Coast have fully recovered while others still struggle to rebound. Buoyed in part by growing tech hubs in Seattle, San Jose and elsewhere, home prices in Washington, California and Oregon — three states most deeply impacted by the housing crisis in 2008 — have surged by more than 50 percent since 2013, according to a comprehensive new state-by-state analysis of the housing crisis by CoreLogic released on Thursday. Yet scattered across the country, housing prices across Illinois in the Midwest, Florida in the South and Nevada and Arizona in the West have failed to reach pre-recession levels, and today nearly 2.5 million residential properties remain in negative equity, according to the new study. “West Coast states, such as California, Washington and Oregon are seeing some of…
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