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Baltimore beats DC in housing! Hurray!

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Everyone knows that the easiest way to rile a true Baltimoron is to insinuate that Charm City is just a suburb of Washington. Yeah, a lot of people around here work for the federal government, and a lot of investment money comes from our rich, fat-cat cousins down in the “Corridor.” But as the decade comes to a close, the Baltimore faithful can point to two things we’ve got on Washingtonians: the Ravens (who’ve got a Super Bowl victory, a bunch of playoff appearances, and no shame like the shame of a Redskins fan, especially this season, JEEZ), and now — the Health of our Housing Market!

Housingwatch.com posted an analysis a few days before Christmas that ranked the top ten healthiest housing markets of the decade, based on percentage change in median home sale price, and guess what? Baltimore-Towson came in at a whopping #2, behind only Allentown-Bethlehem-Easton, Pa.-N.J.

According to data from the National Association of Realtors, median home prices in the Mobtown metro area rose 9.81 percent, from $131,800 to $261,100, from 2000 through the third quarter of 2009. That left the sprawling, all-inclusive DC metro area, referred to by most multiple-listing services as “Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va.,” eating our dust in 9th place. Median prices there rose from $178,800 to $324,700 over the last decade, or a change of 8.16 percent.

So what does this mean? Well, DC real estate is still more expensive, but generally, your typical investment house inside or around I-695 was a better investment, by 1 percentage point, than the average DC-area investment home. And for that, folks, I think we can all be thankful to Santa.

And as for New Years resolutions? Let’s beat ‘em again! Here’s to the new decade!

Category: Baltimore, Business, D.C., real estate

Bethesda, D.C. and Baltimore in Forbes’ Best Cities for Jobs list

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At No. 21, Bethesda ranked higher on the Forbes’ Best Cities for Jobs in 2008 list than D.C. (No. 25) or Baltimore (No. 35).

Perspective check: Wilmington, DE beat all three.

Five equally-weighted data points were used to configure the list: unemployment rate, job growth, income growth, median household income and cost of living. Bethesda’s (above) high scores for median income and low unemployment rate propelled it up the list, outweighing the city’s high cost of living (ranked 92 out of 100).

Here’s Baltimore’s breakdown: 24th in median income; 29th in unemployment; 54th in income growth; 65th in cost of living; 57th in job growth.

JACKIE SAUTER, Multimedia Editor

Category: Baltimore, D.C., Montgomery County

Adrian Fenty and the nexus of the universe

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At Naylor Road and Alabama Ave. SE yesterday, D.C. Mayor Adrian Fenty announced that the District’s cab zoning system would be replaced with a standard metered fare.

Why in Southeast? Because each corner at the chosen intersection represented a different cab zone, emphasizing the zoning system’s flaws.

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It reminds me of the Seinfeld episode where Kramer gets lost at the corner of 1st and 1st (“Can the same street intersect with itself?”), what he fears is the “nexus of the universe.”

Nexus or not, the scenario is one that the District’s tourism directors worry is all too familiar to visitors in the nation’s capital.

“Universally, the hospitality industry wants to go to time-and-distance meters,” William A. Hanbury, president of the Washington, D.C., Convention and Tourism Corp., recently told The Washington Post.

I know the industry brings billions to the District, but let’s forget about tourists for a minute. Do we think the zoning system was that horrible?

Is a simpler metered system the best we can do? Sound off, cab riders!

-JACKIE SAUTER, Multimedia Editor

Category: D.C., government, washington

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