Whaling City Information - - PMI Mortgage Insurer claims New Bedford Real Estate Market the 7th worst in the nation

Nov 08 2006

PMI Mortgage Insurer claims New Bedford Real Estate Market the 7th worst in the nation

Written by Dave Gould

Wednesday, 08 November 2006

NEW BEDFORD, MA - Yesterday, mortgage insurer PMI, Inc. put out their fall report, and New England does not fair well. The report lists the New Bedford to Providence real estate market as being one of the top ten most dismal markets for the next two years. New England and Southern California for the last 10 years had hottest markets, with the value of real estate reaching ridiculous levels during that period. According to PMI for the New Bedford to Providence market has lost an average of 8.78% in 2006. Being number 7 on the top ten list with a score of 59% means that PMI expects the area to suffer a reduction in real estate value of over 10% on at least 59% of all properties sold. This can put borrowers in the uncomfortable position of having an upside down mortgage. This is especially likely if the down payment is small.

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Comments

Truth or Consequences ?
Written by Jlnewbdford 1 on 2006-11-08 16:30:51

So! It looks as if we are just bathing in good news, today. Huh?

One thing after another to help improve New Bedford's image.

Gee, Moby... If you keep re-printing and publishing this information, Someone in authority is going to accuse you of being a "nay-sayer" and looking only on the dark side... Have you gone over to the "dark-side" ?

OR... are you just telling the "TRUTHS" which the other media outlets have consciously chosen to Omit?

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