{"id":579934,"date":"2010-05-26T12:16:00","date_gmt":"2010-05-26T16:16:00","guid":{"rendered":"tag:theatlantic.com,2010-05-26:mt-57287"},"modified":"2010-05-26T12:16:00","modified_gmt":"2010-05-26T16:16:00","slug":"housing-prices-and-the-great-reset","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/579934","title":{"rendered":"Housing Prices and the Great Reset"},"content":{"rendered":"

Housing prices continue to reflect the geographic reordering of the Great Reset<\/a>. The newly released Case-Shiller Home Price Index<\/a>
\nshows a very uneven housing market, with significant recovery in some
\nplaces and continued decline in others. While the National Index is up
\n2 percent over the first quarter a year earlier, it is down 3.2 percent
\nfrom the end of 2009. The map below, created by Zara Matheson of the MPI<\/a>, shows the year-over-year change in home prices for the 20 metro areas covered by the Index.<\/p>\n

\"\"<\/a>
<\/p>\n

San Francisco, one of the nation’s priciest markets, posted the
\nlargest gain — 16.2 percent over the past year. San Diego (10.8
\npercent), Cleveland (6.7 percent), Minneapolis (6.5 percent), L.A. (6
\npercent), and D.C. (5.6 percent) also posted significant gains.<\/p>\n

Las Vegas continued to see significant deterioration in its
\nhousing prices, posting a decline of 12.6 percent since last year;
\nwhile housing prices which have already fallen back to 1990s levels in
\nDetroit fell by an additional 4.6 percent.<\/p>\n

This suggests that the housing seesaw pattern I discussed here<\/a> last month continues.<\/p>\n

\n

Housing prices across the United States have fallen
\nconsiderably since the bubble burst, but the pattern has been far from
\nuniform. Housing prices have held up better in wealthier and more
\nproductive regions, with higher concentrations of knowledge,
\nprofessional and creative work, and high-tech industry as well as
\nhigher levels of amenity (measured as working artists and cultural
\ncreatives) and openness (measured as greater percentages of
\nimmigrants). Housing prices have fallen further in locations with lower
\nincomes and wages to begin with, with blue-collar manufacturing
\neconomies, lower levels of skill, and lower levels of amenity and
\nopenness. Expect that pattern to continue.<\/p>\n<\/blockquote>\n



\n

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\n
\nUnited States<\/a> – San Diego<\/a> – San Francisco<\/a> – Las Vegas Nevada<\/a> – S&P\/Case-Shiller Home Price Indices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Housing prices continue to reflect the geographic reordering of the Great Reset. The newly released Case-Shiller Home Price Index shows a very uneven housing market, with significant recovery in some places and continued decline in others. While the National Index is up 2 percent over the first quarter a year earlier, it is down 3.2 […]<\/p>\n","protected":false},"author":5959,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-579934","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/5959"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=579934"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579934\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=579934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=579934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=579934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}