A couple days ago I posted a list of metropolitan areas and their associated 5-year change in housing prices. I find it interesting to see the data at a more granular level because when you aggregate by state a lot of information gets hidden away.
Today I made a map of the same data. I used a new web-based mapping program that TerraSeer is developing called MarketSeer. More on that coming soon. The mapping program is in beta so some options (colors, etc) are limited but here’s a map displaying Housing Price Index changes over 5 years. The darkest green circles have the largest declines in home prices and the light colored circles have had either modest declines or increases in housing prices. The circles are sized by population.
Now some cartographers might complain because maybe I should use CBSA polygons rather than circle symbols. But, what I like about this map is that if you sort of squint and just look for broad patterns you can see 4 clusters of “housing misery”, or at least I see four. [Maybe you see something different? If so, leave a comment.] The four clusters I see are (1) the West Coast “PAC-10″ region (that’s right not PAC-12 because Utah and Colorado haven’t been hit as hard) with central California, Phoenix and Vegas taking the brunt of the punishment; (2) Florida – pretty much the whole state has been absolutely clobbered; (3) the Great Lakes region with Detroit leading the parade; and, to a lesser extent, (4) the Bos-Wash Atlantic corridor and nearby metros.
So anytime you turn on the news you hear that the whole country has been suffering through a housing crisis. But, it turns out that only a portion of the country is really facing crisis levels of decline whereas most of the Rocky Mountain region, the Central Plains and the South (excluding Florida) haven’t really felt the same pain.
I wonder what impact this lack of geographical precision has had on the national political conversation regarding how to fix the housing problem?
About the Author (Author Profile)Justin Holman is CEO of TerraSeer, where he leads efforts to develop cutting edge sales forecasting and inventory optimization technology for the Automotive Aftermarket. Prior to joining TerraSeer, Justin managed corporate consulting for the Strategy & Analytics division at MapInfo Corporation, leading major projects for retail clients including The Home Depot, Darden Restaurants, Bridgestone-Firestone, Sainsbury’s and New York & Company. Before that, Justin served as Vice President of Software Development at LogicTools, now part of IBM's supply chain application software group. Justin holds a B.A. from Claremont McKenna College, a Ph.D. from the University of Oregon and an Executive Management certificate from Northwestern University's Kellogg School of Management.
Sites That Link to this Post
- Visualizing Unemployment Dynamics – Animate and Compare Time Periods « Geographical Perspectives | March 7, 2012
- Dear President Obama – here are 3 steps that would help resolve the housing crisis and get you re-elected « Geographical Perspectives | March 16, 2012
- Three Ideas that Might Help Resolve the Housing Crisis : JustinHolman.com | March 27, 2012