Good Fences Make Good Neighbors
Can you make sense of the numbers? That, ultimately, is the chore of mathematicians, including that subset we call statisticians. So I found myself amused, but not surprised, when I found myself reading about the state of the real estate market in Prince William County (PWC). Relative to the rest of Northern Virginia, the real estate market in PWC looks pretty good.
While some jurisdictions are starting to see a positive trend in housing sales, MRIS data show that many surrounding localities are still on the decline. Housing sales in the counties of Fairfax and Loudoun and in the city of Alexandria, for example, are down 26, 20 and 40 percent, respectively, from a year earlier, data show.
Real estate agents said the Prince William market is heating up more quickly than others because it took a bigger hit.
“The housing market is looking much more affordable in Prince William than in other places,” said Stephen Fuller, an economist at George Mason University Center for Regional Analysis. “Prices got way too far away from reality across the region. Prince William is adjusting more substantially and will be a much better housing market in the long run because there is a better balance between value and price.” (from here)
Wondering how the prochoice folks for illegal immigration would explain this reversal I decided to look around. Some of things I read were quite funny.
WAMU had this report on the activities of an immigration group.
Stay away. That’s the message Alexandria-based Tenants and Workers United hopes to get across to companies thinking about moving into the county. The group distributed hundreds of leaflets Thursday to those on a commercial real estate bus tour of the region’s office parks and industrial areas. (from here)
I suspect this approach will not have the results this group desires. One of the buyers had this to say.
The cost is what brought Joe Munsell from Springfield to Bristow. A renter for the past four years, Munsell said he was attracted to the value, the family-friendly neighborhood and Prince William’s crackdown on illegal immigration, which he said is making the area safer.
“Two years ago, I could have never afforded what we bought,” said Munsell, who is moving into a four-bedroom $400,000 house with his wife and two children. “But prices came down quickly. The timing was perfect. We found an excellent home and decided to strike when the iron was hot.” (from here)
It would seem that the funny folks at ANTI-BVBL agree. They were running a post with this headline: PW Housing Market Has No Place To Go, BUT Up! Needless to say, I cracked up with laughter.
When reviewing what people do with numbers, it pays to remember what various people have had to say about the subject.
Definition of Statistics: The science of producing unreliable facts from reliable figures.
Evan EsarThere are three kinds of lies: lies, damned lies, and statistics.
Benjamin DisraeliStatistics show that of those who contract the habit of eating, very few survive.
George Bernard ShawAn unsophisticated forecaster uses statistics as a drunken man uses lamp-posts – for support rather than for illumination.
Andrew Lang
