Sunday, November 28, 2010

We're Phil, not Gus

Did we notice this already?   Like the Groundhog Day of economic stories these days.   I don't think anyone caught the latest dump of housing prices from the Federal Housing Finance Agency last week.  Not much news in that local real estate prices went up +1.9% over the most recent quarter and +1.6% over the year. Both through the end of September.

What is a bit more interesting is that local real estate prices rose the fastest over the quarter among all large metros in their  benchmarking.  See page 29 in the link above for that, but you will have to do the ranking yourself. So we are now doing a lot better than the few places whose real estate prices were holding out along with us for some time; places like Houston and Dallas.  Houston looks like it actually had a quarter over quarter price decline, and Dallas' was positive at all of +0.06%.  That makes this a noteworthy story, or at least a change from most of the previous stories.

Probably related to another story unnoticed from a few weeks ago. Credit scroing company Experian has some metro benchmarking of debt and expenses. See: Pittsburgh has lowest monthly payments in the country.   Same story on costs for the most part... plus that old Scotch-Irish frugality I am sure some will argue. 

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