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US Home Prices Just Accelerated At Their Fastest Pace On Record According to the Case-Shiller indices, home prices in America’s 20 largest cities have exploded at 14.88% YoY in April – the highest since Nov 2005…Phoenix, San Diego, Seattle reported highest year-over-year gains among 20 cities surveyed… All cities are seeing home prices appreciate at double digits (a little higher than The Fed’s 2% “goal”). But, on a national scale, it gets even worse. Case-Shiller’s National Home Price Index rose 14.59% YoY in April – that is the fastest pace of home price inflation on record (back to 1988) That...

Between 1970 and 1990, the population of Philadelphia shrank by a quarter, dropping from 1.95 to 1.59 million. Like many American cities, it seemed caught in a downward spiral. Since then – like many American cities – Philadelphia has stabilized. The population now appears to have bottomed out at the millennium, and has been regaining residents over the past decade. But as it rebounds, Philly is becoming a different kind of city. In the two most recent decades, which comprise the bounce of the city’s population curve, owner-occupied housing dropped even more steeply than in the ’70s and ’80s. Between...