But not in Austin.  According to a CNNMoney.com report, there will be double digit depreciation in many markets across the country.  Click here for the report.  As can be expected, the big losers are in California, Arizona and Florida.  But if you take a closer look you will find areas in all parts of the country being affected.  Areas like Detroit and East Lansing in Michigan, Cleveland and Toledo in Ohio, Portland-South and Portland-Biddeford in Maine, Worcester and Peabody in MA, and Grand Rapids in Wyoming are all on the list.

Many areas with the biggest drop were some of the most expensive areas.  Many that saw the least depreciation or healthy appreciation are the areas in which the cost of housing is still relatively low.

As for Texas, the only places on the list were at the bottom, meaning they are barely losing value.  These areas were the McAllen-Edinburg-Mission region and Fort Worth-Arlington.  Austin, Houston, San Antonio and Dallas must still be looking pretty good.