Opening up the Tribune this morning I was immediately drawn to a bold teaser headline about record home price drops. Turning to the business section, the headline for the article was about a record 26% drop in prices but reading the article soon told the story that this was for the San Diego market. The rest of the article talked about San Francisco, Phoenix, and Las Vegas.
If you’ve downloaded my 2008 report you know that this isn’t the case for our area. Yes, there are 3 cities (Arroyo Grande, Atascadero, and Nipomo) with a median home price for 2008 that is 26% lower than its peak but the rest of the cities in SLO County have a lower percentage drop. Three cities (Cambria, Pismo Beach, San Luis Obispo) have fallen less than 10% from their peak.
Whomever at the Tribune that is pulling off AP stories to reprint in the paper should make sure the articles have something to do with the Central Coast. If not, then I wouldn’t put a bold headline about it on the front page. Heck, San Luis Obispo’s median home price only dropped 4% from 2007 to 2008. Isn’t that the local news headline?!