Friday, June 11, 2010

Daily Ranking: Most improved housing markets

Bloomberg (née Businessweek) yesterday came out with a list having us #4 in terms of the most improved U.S. housing markets.  Something to read along with that is an interview running today in the PG with Hoddy Hanna on the state of real estate markets locally

I don't quite get the Bloomberg logic.  Most improved implies things have gotten better after being down.  As their own text says, the housing market story here is more one of stability which is different from actually 'improving'.  Whatever. The master list-maker in the sky says Pittsburgh has to be on all positive lists these days so why knock it.

Also to go along with that story is some economic commentary from Ezra Klein in the WashPo:  The Housing Crash and Long-term unemployment.  There is actually a diasporan note in one of the comments left there if you want to look.  It actually is awfully telling as to explaining some things going on with regards to Pittsburgh and migration these days. 

So on unemployment... and the Bloomberg article above which references us as "Despite having a high unemployment rate"..  I don't think I commented on the last batch of local labor force data.  So here is just an updated version of the Pgh v. US unemployment chart. Bottom line it has been 43 months since the US unemployment rate was actually lower than Pittsburgh's. An unprecedented duration for that being true for us.

and finally. Astute news readers may have caught that there is some new census data out.  Maybe some parsing on that later today.


Anonymous Anonymous said...

All these rankings cry out for a "most rated places" list. Actually, it sounds like a job for The Onion.

Friday, June 11, 2010 9:54:00 AM  
Anonymous MH said...

I'm expecting for the first six months this year that price appreciation will be about 2 percent over the same six-month period last year.

That's what Hanna said. But, the tax incentive didn't get expanded until almost March 2009 and $8,000 is well over 2% of the price of a local house.

Friday, June 11, 2010 9:54:00 AM  
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