Tuesday, February 24, 2009
Portland Home Prices Plunged in December
The latest Case-Shiller numbers are out. I'll keep it simple and show the data in a graph. Ouch. Economists debate about how much people's attitudes about their own economic situations are relative to those around them, so in case yours is highly relative, I include San Francisco. These are the December numbers, so we are two months behind, and there is evidence that the incredibly low prices are starting to bring investors back into the market. But here in Portland, on average, homes are back to being worth what they were in September 2005. Wow.