It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.
…the opening paragraph of A Tale of Two Cities – Charles Dickens
I’m not at all sure exactly what happened this week! Two city rankings came out this week with Oklahoma City making the Top 10 Cities Virtually Unaffected by the Housing Bust as ranked by CNBC,com. Oklahoma City being number 2.
Then the next list out, the 10 Worst Housing Markets Across America, Oklahoma City came in at number 10. This report was compiled by BusinessInsider.com.
Here’s the Numbers
Top 10 Cities Virtually Unaffected by the Housing Bust
Oklahoma City #2
Change from U.S. peak (2006): +9.4%
Current ZHVI: $111,400
Year-over-year change: -4.4%
Comparison to National Average
Underwater mortgages: 30.9% below
Foreclosure re-sales: 85.9% below
The 10 Worst Housing Markets Across America
Oklahoma City #10
Homeowner vacancy rates: 5.2% (6th)
Rental vacancy rates: 9.6% (34th)
Total housing units: 539,077
So there you have it. A tale of two cities. The best and worst of times.