This graph by Justin Fox, Time magazine’s curious capitalist, charts 20 major U.S. metros on the S&P/Case-Shiller Home Price Index from January 2000 to May 2007. The differences are staggering. Generally speaking, metros that score highly on our creativity index continue to perform well. Seattle and Portland remain up as do Denver and Atlanta. Boston and Minneapolis are down a but not too much. Places like Miami and Las Vegas are literally crashing and the outlook is bleak in Rustbelt centers like Detroit which never saw much appreciation to begin with. Before anyone says anything, LA does not score highly on the overall creativity index. Washington DC is really a tale of two housing markets: prices remain relatively stable in the city but are plummeting in the suburbs. San Francisco’s declines are modest.
North of the border where I live, real estate continues to go up and up. Check out this story on serving up Toronto to the “super-rich” in today’s Globe T.O. section.