Experts say Phoenix Real Estate market won’t recover until 2034

Phoenix Housing MarketHat Tip to ABC 15

PHOENIX — When it comes to housing, whether it’s in the Valley or around the nation, the biggest question out there is: when is the market going to recover?

Money Magazine has a prediction that may surprise you.

Arizona is listed as one of the top five worst markets and they are forecasting a recovery date of 2034.

Best Markets:
Oklahoma 6% of homeowners underwater, Recovery forecast 2009
New York 6% underwater, Recovery forecast 2016
Montana 7% underwater, Recovery forecast 2012
N.Dakota 8% underwater, Recovery forecast 2013
Alabama 9% underwater, Recovery forecast 2013

Worst Markets:
Nevada 70% underwater, Recovery forecast 2033
Arizona 51% underwater, Recovery forecast 2034
Florida 48% underwater, Recovery forecast 2031
Michigan 39% underwater, Recovery forecast 2022
California 35% underwater, Recovery forecast 2028

Read More here

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