Condo Market In Houston Is Humming, We're Told

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Yesterday we told Houston homeowners they should be happy that the local real-estate market is not in a complete meltdown, according to a report.

A new report today indicates that condo owners should be rejoicing even more.

The Houston market is third in the nation in terms of price increases for condos, says the National Association of Realtors.

That's not as good as the Dallas market -- that was ranked first -- but it's a hell of a lot better than, we're betting, Miami or the small-but-hopeful town of Condo Glut, California.

The NAR said Houston saw a "healthy" increase of 8.1 percent in condo prices in the third quarter of 2008.

(As with the real-estate report, we're not all that sure that we're buying this.)

As we say, Dallas was first and Houston was third. Who was second?

We'll let you guess. Nope, guess again. No, try again. Nope, one more time (repeat 435 times).

Give up? Bismarck, North Dakota. Bismarck has the second-lowest unemployment rate in the nation (2.6 percent); on the other hand, when it comes to spending any cash you earn you're limited to the entertainment options of Bismarck, North Dakota.

-- Richard Connelly

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