Data wars, water wars and Lady Gaga
Data disconnect? A controversy erupted this week over the National Association of Realtors methodology used to compile home sales data. CoreLogic, which also publishes sales stats, challenged NAR, claiming NAR data overstates sales of existing homes by 15 to 20 percent. Slower sales mean it will take longer than anticipated to work through the inventory of unsold homes. Inman News has a concise assessment. http://bit.ly/i8akh7 Home prices in most markets continue to be discounted, according to Zip Realty’s monthly review, which shows the number of discounted homes rose 17.6 percent in January compared to a year ago.
Best and worst for home values in 2011? The Forbes list is out. As a list maker myself, I know creating your own crystal ball is dicey at best, but Forbes relied on Local Market Monitor, a Carey, N.C., research firm, to crunch the numbers. Among cities where prices are expected to rise, a number in the top 10 including San Jose and Washington, D. C., already have price stabilization. Others include Santa Anna, Calif., Boston, Pittsburgh, Oklahoma City and Austin. The cities where a continued decline in prices is expected include Orlando, Jacksonville, and Tampa as well as Tucson and Las Vegas. http://bit.ly/i39E9W
A luxury icon bites the dust according to CNN and Fortune Magazine. “Farewell, Family Truckster, farewell,” blurbs Alex Taylor III referring to the death of the station wagon, specifically the Volvo wagon, one of the persistent symbols of affluence in the 1970s and 1980s. By the mid-1970s, residents of tony suburbs could often be found tooling around in a Volvo station wagon with the requisite golden retriever in the back. It should be noted that in that pre-front wheel drive era, having some extra weight in the back was essential in snowy regions. But even front wheel drive couldn’t keep the phenomena from dying, and Volvo recently announced they will stop selling wagons in the U.S. Other carmakers, including BMW, still offer wagons. http://bit.ly/i1BLmd
Who gained the most from income growth so far in this century? The top 10 percent of Americans shared in 100 percent of income growth from 2000 to 2007. From 1948 to 1979, a period of overall strong economic growth and productively, the top 10 percent shared only 33 percent of income growth. The Economic Policy Institute explains their findings. http://tinyurl.com/4n2ybp6
The water wars have only just begun. Expect water to be to be the next big environmental push. In the West, where water rights are a complex issue, water wars continue to fester. Water will soon become a hot button for California Governor Jerry Brown. Check out what Dan Walters in the Sacramento Bee has to say about “What’s next for the septuagenarian retread.” http://bit.ly/eWf1ua
Sometimes, this is how it feels to be a writer: “Being a writer is like having homework every night for the rest of your life.” Lawrence Kasdan (born 1949) Screenwriter from @Quotes4Writers
Overheard on Twitter from social media marketing guru Davd Meerman Scott @dmscott: “Lady Gaga on @60minutes ‘One of my greatest artworks is the art of fame. I am a master of the art of fame.’ “
