U.S home prices rose 0.4% in August, and were up 5.1% compared to a year ago, according to the S&P CoreLogic Case-Shiller 20-City index. Portland was up 0.4% for the monthbut leads the pack for the year up 11.7%. Seattle is number two for the year. It’s up 0.5% for the month and 11.4% for the year.
Lobster was $2.20 a pound in 2009. In August, prices rose to an 11-year high of $6 a pound where they are today at a time when they usually experience a post-summer drop. Driving prices is new customer demand in Asia, a desire for sustainable food in the U.S., and the new trend of food trucks and lobster dishes. Matt Jacobson, executive director of the Maine Lobster Marketing Collaborative says “The proliferation of lobster rolls has been a huge factor in this rise they have become kind of a hip trendy thing — an affordable luxury.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
