Mr Biggleswo…, Other/Just Looking in Juneau County, AK

How will Stockton's bankruptcy filing affectin housing prices?

Asked by Mr Bigglesworth, Juneau County, AK Fri Jul 13, 2012

My intuition is that people are less likely to want to purchase real estate in a bankrupt city, so prices will decline sharply. Interested to hear what other people think.

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3
So Cal Homes 951-821-8211’s answer
I would doubt the market would fall sharply. At most a couple percent.
Currently it is hard to find active homes on the market. Had it been last year when many homes were on the market it may have had more of an impact.


Harold Sharpe - Broker
So Cal Homes
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0 votes Thank Flag Link Fri Jul 13, 2012
Stockton’s housing market has been struggling since they were one of the hardest hit during the market crash, which may have been a big contributor to the financial woes Stockton has been experiencing. If Stockton’ filing bankruptcy will have an effect on the housing market it will be short lived, if any at all. It’s possible the bankruptcy could help Stockton’s housing market. It all depends on how the city reorganizes itself moving forward. If Stockton is able to hire more public workers i.e., police officers the bankruptcy will help the market, since, the market has been more affected by the inclining high number of crimes.
0 votes Thank Flag Link Fri Jul 13, 2012
I think you are absolutely correct:
Another factor would be unemployment in the area.
In some cases, water availabity would affect housing prices.
The whole Country will not rebound equally.
0 votes Thank Flag Link Fri Jul 13, 2012
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