Thursday, July 03, 2008

bipolar housing disorder

Just so you don't think it's just me out there making this stuff up.. from the PBT is this quote
Despite a nationwide housing slump, losing short-term value on a home in Pittsburgh is less likely than in nearly every other major market, according to a recent report. (emphasis added)

Who would've thunk that? Must be a crazy person.

The report it references is here. It says that Pittsburgh's housing market is safer than oil boomtown Houston these days?! What is just curious to keep observing is the coverage of housing issues locally. This is at least relatively positive story, we have the least likely chance of decline.. but that is still a far cry from pointing out that almost alone among major regions housing prices here continue to increase while rapidly rapidly deflating most everywhere else.

update: I don't take credit for this, but on the semantics of the news... the headline for this particular news blurb was actually changed. It started as "Housing prices in Pittsburgh less likely to decline in next two years, report says"... but then after I blogged about it it became: "Housing prices in Pittsburgh unlikely to decline in next two years, report says". I added the emphasis in both cases just to highlight the change. It may seen innocuous, but the former implies pretty strongly that there will be a decline in housing prices, we are just wondering by how much. The latter is closer to what the report in question says that there isn't anything observed thus far that says local housing prices are going down at all.


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