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US News and World Report Shows Home Values Plunge 91.48%
Home Values Plunged 91.48% … or that is what you might believe if you were unfortunate enough to trust the journalism standards of Yahoo! Finance. In what can only be described as gross negligence, Yahoo! published an article from US News and World Report on what it felt was the top 10 bargain retirement spots in the US.
According to this work of fiction, Tallahassee is the 2nd best city for retirees to buy a home because our home values dropped “91.48%” between 2009 and 2010. In her story from 2/22/2011, Emily Brandon states
Housing prices are declining fastest in Portland, Ore. (-92 percent), Tallahassee, Fla. (-91 percent), and Tucson, Ariz. (-88 percent).
The article shows in its data source that the current median home price in Tallahassee is $149,000 and thus through extrapolation, we presume Ms. Brandon must believe that the median home price in Tallahassee, in 2009, was roughly $1.75M. Based upon my experience as a 20 year veteran of the Tallahassee real estate market, and the publisher of the most analytical newsletter on local real estate market conditions in Tallahassee, I can say with a fair degree of certainty that our median home price in 2009 was not ... more
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