I am not an expert in this field but it is my opinion after my experience that housing cost is not got as much to do with local as people think. Housing is just too expensive now (income vs housing cost) (rental potential vs housing cost). I have been trying to understand the disparity between Florida and Cache valley. I believe that Logan area housing will continue to drop. I think that some of the reasons that it is still at higher levels are:

1. Utah is a non disclosure state so the public is not as aware as quickly of the of the market price in general.
2. The price is set by the most recient sales. Ownership turn-over is slower in Cache valley than Southern Cal or Central florida.
3. Central florida is a disclosure state, has High turn-over, and made worse by Zillow publishing the data in almost real time causing the accelarated landslide in prices.
4. I think that slower turn over, and being a non disclosure, and the fact Zillow is not able to publish the info is a buffer.

What do you think?

Scott