From Forbes: Like cities in California, Florida, Nevada and Arizona, Atlantic City saw a dramatic run-up in prices during the housing boom due, in part, to speculative purchases of second homes; Atlantic County includes popular beachfront spots such as Margate.
But while those bubble markets have already burst, Atlantic City still has significant price depreciation ahead; Local Market Monitor predicts the metro's median home price will fall 9% in the next year.........................................Full Article: Source
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