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"The nation's hottest housing markets include cities in Washington, Utah and Texas, according to the latest government figures. North Carolina markets also have moved onto the chart."
These numbers are suspect. Charlotte's appreciation in this article is nearly twice that from the October Case-Shiller data (4.3% vs 8.1%). Same problem with Seattle (3.3% vs 7.8%). And those cities (like the other 18 in that study) were trending down. Durham numbers are just as suspect - the September MLS data shows a 2-3% year over year gain in prices.
If the mismatch is this bad for cities I do have data on, I'm not going to give the article that much credit on the numbers I can't check.
ETA - Forgot Salt Lake. Don't be too sad - their bubble is just popping a year later than the rest of the West (from housingtracker.net) :
Says it's based on "the lastest government figures." I wonder what that reallly means and how recent the numbers actually are.
I was thinking the same thing. While I bet there are some homes in some areas that have increased 7+% in the last year in Durham, I certainly don't think you can apply that to every home or every area. The same goes for other cities.
Mrs.Steel, I think you would have not enjoyed the traffic in SLC. Ogden to Spainish Fork has exploded in growth all along the I-15 corridor. Parts of that area are geographically limited to add more roads because they are stuck between the Salt Lakes & the mountains. However, it's a BEAUTIFUL city. If our moving truck was not already on the way to NC, where we were closing on a house in a few days, I would have made my hubby move to Moab. Of course, hubby would not have lasted 6 months there. So it's a good thing ended up in Durham.
I have to laugh when I see SLC on the list. You couldn't pay me to live there!
Hmmm ... I suspect there's an interesting story behind that statement!
PDXmom, I was able to spend a few days in SLC with my husband when he went there for his job interview. It has its pros and cons, but I know we are much much happier here than we would have been there.
Whenever, I see pics of SLC at dooce.com, not to mention her sweet house, I keep thinking that it can't be ALL bad. Those mountains, that skiing, those mormons.....
Whenever, I see pics of SLC at dooce.com, not to mention her sweet house, I keep thinking that it can't be ALL bad. Those mountains, that skiing, those mormons.....
Omamia, sometime I'll have to tel you about the fascinating ads I found in the back of SLC's local free-press weekly paper. There's a whole other culture there that is definitely not Mormon!
SLC is not all bad. For instance, the view of the snowy mountains from the university is spectacular. Their grid road system makes it very easy to find your way around, too. But one of the things we adore about the Triangle - and what is sorely lacking in SLC - is the millions of tall trees. The Triangle is so green and lush. Love it! However, SLC is in the high desert. The moutains there are covered in short, scrubby bushes that are better suited to that climate. I'm sure the countryside there is charming to some people, but I wasn't a fan. I prefer the rolling woods of North Carolina ... and the close proximity to the beach.
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