Tortoise or Hare? Pittsburgh Real Estate
Some benchmarking of data from the Federal Housing Finance Agency is below. I should add a note that this is their Purchase Only index of housing prices among the 25 largest MSAs in the nation. This is an index normalized to the beginning of 1991, so the graph is showing relative changes, not actual dollar values in any sense.
Pittsburgh is in fact the current median in that dataset which they label as the 25 largest MSAs, but includes some Metropolitan Divisions as well. Nonetheless, if you bought real estate in Pittsburgh in 1990 it would on average have been a better investment than in half of the other regions. I suspect some here will just refuse to believe that.
It is all unctuous bafflegab I tell you. Über unctuous maybe.. or is it Über bafflegab?
and for the curious, the region tracing out the north face of the Eiger is Miami.