Source: Bespoke Investment Group
I love these two charts – they are so instructive in so many ways. They really invite closer study as to why some cities have recovered so strongly, and why others have failed to.
The first 4 cities in the % from Bubble peaks are Las Vegas, Phoenix, Miami, and Tampa. These cities saw huge booms in housing but without a proportional accompaniment increase in economic activity. Especially in terms of the jobs creation that would allow people to pay those cheap mortgages which supported those elevated prices.