for the 1,000th time the housing market is not sick!!!

Is that an affirmation? Maybe if you repeat it often enough, it'll come true.

How bout just the facts:


So why do prices in our region keep going up?

1Q2006 was 14% higher than 1Q2005
http://money.cnn.com/2006/05/15/real...ices/index. htm
2Q2006 was 11% higher than 2Q2005
http://money.cnn.com/2006/08/15/real...able/index. htm)
3Q2006 is 5.5% higher than 3Q2005
http://money.cnn.com/2006/11/20/real...ion=2006112 014
4Q2006 is 3.3% higher than 4Q2005
http://money.cnn.com/2007/02/15/real...s_q4/index. htm
1Q2007 is 1.3% higher than 1Q2006
http://money.cnn.com/2007/05/14/real...ion=2007051 514

AND NOW:
2Q2007 is 3.4% higher than 2Q2006
http://money.cnn.com/2007/08/15/real_estate/NAR_ho me_prices_lower/index.htm?postversion=2007081512

To add even more fuel to the fire, Philadelphia condo prices increased 5.6% this quarter from last year. Feels like things are heating up right now.

7

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~Lets cut taxes and pensions out of Philadelphia.
http://www.philadelphiaforward.org

DrGoogle: The naysayers have already explained that your facts can't be accurate since they don't jibe with their own gut feelings about our failing housing market.

Try to be logical for once, k?

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Reader Notification: Information contained in this post may be the result of prior searches in Google, Wikipedia or other online sites. The rest is stuff I made up.

Its nose is just a little stuffy...maybe it's just allergies?

Each time I read the title of this thread I imagine the housing market with a cold, a fever, the flu or pneumonia. Just how sick IS the housing market?

A house on my street just sold for 500K (new construction without parking). Maybe the poor housing market doesn't know it's sick yet? Who wants to break the news?

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Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day that says, "I will try again tomorrow."

---Mary Anne Radmacher

How many sqft?

We fill pretty fast. Investments that flip to rental are really popular.

I wonder if that's all who is living in the new White Building. I see people coming and going from there, and you have to give those people props...

They bought a condo next to the PGW payment center (across street), dollar stores (on a 4 block stretch), the busier methadone clinics in the city, Family Court, and the Clerk of Family Court (that's the restitution center where the babydaddies have to pony up money), mental health groups that cater to all walks of life including sex-offenders.

Oh did I mention that the Beneficial Savings Fund Society building across the street is a public toilet and sleeping couch for the panhandlers?

And ALL of that mess is mere feet from those condos. Not to mention there is a rather boisterous TPDS club across the street [loud at night].

If THAT can fill quickly, then the market is still good, IMO.

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Buh-bye.

About 2500, like most of the homes on the street.

500K is, in my opinion, a very high price for this block. To be clear, the starting asking price was in the mid-600s and it sat for a while, but we knew it was never going to move for that price. Most of the comparable stuff around here is priced in the high 500s-low 600s--I imagine these properties will continue to sit if they don't come down in price. Point being, if 500K is the outcome of the price adjustment we're beginning to see, that's just fine with me.

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Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day that says, "I will try again tomorrow."

---Mary Anne Radmacher

2500 s/f? Where? For a well appointed house of that size between Wash/Girard I don't think half a mil. is off-the-mark. especially if it's in Fairmount or BV.

16th and Christian, G-Ho Baby!

I don't think it's off the mark either, I think it just illustrates one of the problems with the market, greedy sellers. The original asking price was $639,000, which was WAY too high. They gradually dropped their price over the course of probably 6-8 months down to $525K (I thought this was reasonable), and got an offer at $500k.

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"I been a prisoner to a white Mr. Coffee
Down here on Christian Street" - Marah