Oct 18, 2009

Exaggerated Reports

Revisiting a previous posting on the Southeast Texas Political Review, Philip wrote on Feb. 18, 2009:
The bottom line gang is this - Jefferson County is dying a long slow death.
This came after Beaumont-Port Arthur registered the largest single-family home price increase in the nation during the fourth quarter of 2008:
The largest single-family home price increase in the fourth quarter was in the Beaumont-Port Arthur area of Texas, where the median price of $132,600 rose 16.7 percent from a year ago.
In a report just released, Beaumont is still leading the housing market: 
Firm projects Nevada will have worst housing market
The Associated Press
Updated: 10/17/2009 10:24:05 PM MDT

Reno, Nev. » An analytics firm is projecting Reno and Las Vegas will be the nation's weakest housing markets for the next 12 months out of 260 metropolitan areas.

Veros Real Estate Solutions is forecasting a 12 percent median price decline in Reno for both new and existing single-family homes over that period, the biggest drop in the nation.

The five markets projected to be strongest are in Charleston, W.Va.; San Diego; Amarillo, Texas; Boulder, Colo.; and Beaumont, Texas.

This appreciation in owner equity represents a real increase in wealth by local homeowners. Klein's reports of the death of Jefferson County have been greatly exaggerated.

1 comment :

Anonymous said...

Fillip the Futile warned Motiva about Jefferson County but the company didn't listen: it's hiring 6,500 construction workers to expand the Port Arthur facility. Source: The Enterprise AND (giggle) The Examiner.