Tuesday, December 31, 2013

All-Time-High House Prices in 10 of top 50 Metro Areas

House prices are up more than 13% from their 2007 high in Oklahoma City and by more than 6% in the Denver metro area. Prices are back to all-time highs in 10 of the nation’s 50 largest metropolitan areas, according to a Wall Street Journal analysis of price data from Zillow.

Prices are within 5% of their previous peak in San Jose, Calif.; Nashville, Tenn.; and Dallas.

 Prices are up 40% from their prior highs in Palo Alto, Calif., which is just 50 miles from San Pablo, a working-class suburb north of Oakland. Values there are still 54% below their peak. While 38% of all Bay Area ZIP Codes are back above their prior peaks, prices in another 18% are more than 25% below their previous highs, according to the Zillow data.

Nearly every ZIP Code in Oklahoma City's metro area is at a record high or within 5% of the previous high, according to the Journal analysis. Values in more than 60% of ZIP Codes in five other metro areas—Tulsa, Okla.; Buffalo, N.Y.; Rochester, N.Y.; Austin and Denver—have reached new highs.

1 comment:

  1. Young People Sell Future Earnings To Investors
    Start-up firms are offering an alternative to traditional debt by letting people sell a portion of their future earnings for cash.

    A new industry is offering people the chance to "sell" a portion of themselves to investors in return for a cut of their future earnings.

    Start-up companies such as Pave match carefully vetted, mainly young individuals, known as "prospects" with those willing to offer a one-time cash infusion.

    On average prospects seek to raise around $20,000 (£12,100), although so far amounts have ranged between $3,000 (£1,800) and $50,000 (£30,300).

    They choose to repay up to 10% of their future earnings on an annual basis for either five or 10 years.

    Pave determines what the percentage repayment will be based on the qualifications of the candidate.

    The company's co-founder and COO Oren Bass told Sky News: "There's a huge debt issue in the States, particularly for young people.

    "They don't have a funding option that really enables them to make choices to think long-term. So there are two big issues that Pave addresses.
    There are protections in place for those who choose this alternative method of funding.

    If prospects don't earn above a certain amount, they don't have to pay, which sets the arrangement apart from a traditional fixed debt scenario, and if an individual becomes very successful they can choose to buy themselves out of the contract for five times the amount raised.