Look anywhere in rural areas of high tax states in Great Lakes/Midwest/Northeast, such as southern Illinois or upstate NY. Even homes in CT/NJ away from the urban centers are down in real value, maybe flat or slightly higher in nominal value.
Certain regions of the country are hot, certain regions are nowhere near. Even the differences in the regions of the US where house prices are rising exhibit a wide range from many areas only experiencing slight changes to others in the hundreds of thousands of dollars.
It depends if your region has the amenities people with money are looking for or if it has access to large numbers of high paying jobs.
No region doesn't matter look at the actual statistics on this. I looked at neighborhoods the had above 50% foreclosure rates and those houses STILL increased in value in the long term.
You can argue the real/nominal value, but housing cost are a cause of inflation in this regard not an effect, all prices are relative to the price of shelter for individuals.
Certain regions of the country are hot, certain regions are nowhere near. Even the differences in the regions of the US where house prices are rising exhibit a wide range from many areas only experiencing slight changes to others in the hundreds of thousands of dollars.
It depends if your region has the amenities people with money are looking for or if it has access to large numbers of high paying jobs.