Case Shiller Misses Consensus As Home Price Decline Continues For 4th Month

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Tue, 12/28/2010 - 10:51 | 833226 Robot Traders Mom
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Tue, 12/28/2010 - 10:57 | 833249 TWORIVER
TWORIVER's picture

Breaking into all time mean territory now with that avatar!

Tue, 12/28/2010 - 11:15 | 833311 Byte Me
Byte Me's picture

Wot? No charts?

Tue, 12/28/2010 - 11:57 | 833472 Arius
Arius's picture

would you mind to put a selling point too?

Tue, 12/28/2010 - 10:54 | 833231 Caviar Emptor
Caviar Emptor's picture

Score another one for Biflation, bitchez! 

Houses down, oil up. That's the news this week. Which just goes along with the theme-songs of employment down, food up and incomes down, cotton up. And tuition up. And healthcare up.

With credit card interest at 22% we're sure gonna have a 'Robust" consumer next year!

Tue, 12/28/2010 - 12:01 | 833485 SteveNYC
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The Bernank is doing a beautiful job balancing "inflation" and keeping it at ZERO! Think about it, houses down/oil up = net result BALANCED! Yes, The Bernank truly is the greatest central banker of all time, Greenspan eat your heart out.

This has got to be great for the middle class....

Tue, 12/28/2010 - 18:15 | 834500 TheJudge2012
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Exporting inflation to China

For now anyway.

Tue, 12/28/2010 - 12:06 | 833493 Beatscape
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The Double Whammy Economy...

Wages down, job opportunities down, home prices down, commercial real estate down, cost of doing business is up with city, county, state governments all broke and raising taxes and the feds are layering in more and more bureaucratic burdens...

Oil and gasoline prices are up, cotton/clothing prices up, food prices are up, health care costs higher, college tuition prices higher...

Call it the middle class vise grip...

Tue, 12/28/2010 - 16:10 | 834129 TruthInSunshine
TruthInSunshine's picture

'The Great Bernank Milk Money Shake?'

Tue, 12/28/2010 - 15:49 | 834073 Ricky Bobby
Ricky Bobby's picture

Repeat after me "There is no inflation, There is no inflation, There is no inflation" That's what I hear from the talking heads so it must be true.

Tue, 12/28/2010 - 10:53 | 833233 mikla
mikla's picture

So *not* a surprise.

Unless you pretend to be paid to report on such things.

Tue, 12/28/2010 - 10:56 | 833242 LoneStarHog
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Futures Hold Gains After News on Home Prices

This is the CNBS headline and if one does not actually READ the release it gives the impression that the news was POSITIVE.

Tue, 12/28/2010 - 10:58 | 833256 skohiu
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All that matters this morning is CNBS's headlights..........did you see Amanda Drury's puppies?

Tue, 12/28/2010 - 11:06 | 833277 cossack55
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If you are implying that the worse the news, the more visible the cleavage, bring on the flash crash.  Thats about all she is good for anyway. 

Tue, 12/28/2010 - 12:04 | 833487 velobabe
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i noticed them, on morning joe this AM. cleavage galore, nice puppies she has, and i bet they don't sag a bit.

Tue, 12/28/2010 - 10:57 | 833248 put_peter
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Gold up, retailers on their knees and home prices down... something does not add up here...

Tue, 12/28/2010 - 11:00 | 833258 Caviar Emptor
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Gold is protection against your buying power getting crushed. Anyone holding dollars wants to dump them as their buying power erodes daily. That means incomes, dividends and interest are also eroding. So gold provides actual biflation protection

Tue, 12/28/2010 - 11:04 | 833272 put_peter
put_peter's picture

But one could argue that buying power isn't going down when home prices are declining... However the world has gotten so weird that i think the mother of all crashes is just around the corner... JMHO

Tue, 12/28/2010 - 11:09 | 833286 Caviar Emptor
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In an economy where housing prices are dropping (the bulk of people's net worth) and cost of living and doing business are rising fast it makes sense. It means businesses can't pass on rising input costs. Margins get squeezed. It sets up a vicious cycle where the Fed will unrelentingly print more in response, reinforcing the effect. Only gold is preserving your buying power.

Tue, 12/28/2010 - 11:14 | 833315 put_peter
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Yes i understand the concept of preserving your wealth with gold. However to me i think market is telling: Housing prices are going go a way lower as the money is going to gold instead of homes. That on the other hand means that we are heading to deeper into recession... I hope i'm wrong because that could spell a total catastrophe. 

Tue, 12/28/2010 - 11:30 | 833373 MachoMan
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One of the fundamental problems with our government and its pervasive involvment in our lives is that our citizenry has not the courage to believe in itself...  Do not rule out possibilities simply because you do not want to believe they could occur... 

Tue, 12/28/2010 - 14:17 | 833807 cossack55
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Total collapse, total catastrophe, its all good.  The only way to fix a system this corrupt is to let it burn.  Burn, baby, burn.  Also, during the fire is a great time to seek and deliver retribution to those who have deserved it so long.

Tue, 12/28/2010 - 11:02 | 833260 Everyman
Everyman's picture

I think I get the pattern now, they sell Home builders now and buy NFLX and AMZN?

Tue, 12/28/2010 - 11:02 | 833261 oh_bama
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You guys better believe that the Fed can throw enough money at this. hehe

Buy the fucking dip. Or you will be living in this bearish biased, end of day type of online community forever, with bitterness in real life.


Tue, 12/28/2010 - 11:49 | 833439 unununium
unununium's picture

This ain't the dip.

Tue, 12/28/2010 - 11:03 | 833265 Cognitive Dissonance
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This can't be happening. I mean we're right in the middle of a strong and sustained economic recovery, right? What do you mean house prices are dropping? Who dropped the ball?

This means we're gonna need to buy municipal bonds and every damn mortgage in America over the next 18 months. Where does this end?

Tue, 12/28/2010 - 11:06 | 833275 emsolý
emsolý's picture

It ends with the Fed. I mean the Fed ends it. I mean end the Fed.

Tue, 12/28/2010 - 11:52 | 833455 Eternal Student
Eternal Student's picture

It ends with the Bond market saying "no", with higher rates. Once we start getting cut off from the source of this heroin, i.e. cheap credit, then we can move on to getting back to normal. Unfortunately, that's going to be ugly. That's why the Fed can't effectively print unto infinity.

Re: Case-Shiller. A key thing has been left out of the article, and the comments to date. CS has said that the Seasonally Adjusted number should be ignored; the only thing which counts is the NSA. So this number is indeed very bad.


Tue, 12/28/2010 - 16:11 | 834130 ElvisDog
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Yeah, I thought this was the "winter of recovery" that followed the "summer of hope" or whatever it was.

Tue, 12/28/2010 - 21:23 | 834842 StychoKiller
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Guess this means you haven't planted your "money tree" yet...

Tue, 12/28/2010 - 11:05 | 833266 HarryWanqer
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I see a lot of smaller homes of 800-1000 sq. feet selling for $90k in lower middle class neighborhoods.  The houses in higher middle class neighborhoods are selling for just over $100k of course.  What are people waiting for?  At these prices, you're practically stealing it.  Better buy why you can!

Tue, 12/28/2010 - 11:06 | 833274 Caviar Emptor
Caviar Emptor's picture

Not considered a value at these levels or even a good investment long term. Post bubble real estate prices can stagnate for decades. Even worse if the economic picture is spelling contraction. Even worse if nobody has any money left when they're getting squeezed from biflation.

Tue, 12/28/2010 - 11:09 | 833292 thepigman
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Where do you live, Wanker? Kansas?

Tue, 12/28/2010 - 11:20 | 833344 Cognitive Dissonance
Cognitive Dissonance's picture

This is Wanqer.

You have been Wanqered. :>)

Tue, 12/28/2010 - 11:47 | 833435 Careless Whisper
Careless Whisper's picture

good weather and medical marijuana isn't enough to get me to move to cali. with a nazi loving governor, carbon taxes, and high unemployment, it's adios.

here's a house in compton for only $99,900 and it has a pool.

but then there's all those nasty drive-bys


Tue, 12/28/2010 - 11:58 | 833471 bob_dabolina
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They're gona' have to remove that steel wire fence if they want the subprime ninja's in.

Tue, 12/28/2010 - 12:38 | 833612 Cognitive Dissonance
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If you look carefully at the 14 photos, it appears the house has a mold problem. Look closely at the one of the closet and also just above the baseboard trim in several photos including the bathrooms.

That can't be good. Nice back yard though if you're not being shot on sight by the drive by shooters.

Tue, 12/28/2010 - 13:02 | 833672 caconhma
caconhma's picture

Nice people, nice neighborhood. After all, it is so close to Hollywood with all its glamor.

Will our next presidento be from this neighborhood? You never know.

Americans were brainwashed to an imbecile level.

Tue, 12/28/2010 - 21:26 | 834852 StychoKiller
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Drink Brawndo!  It's got what plants crave!

Tue, 12/28/2010 - 13:38 | 833736 Don Birnam
Don Birnam's picture

"Home, Sweet Home ?" Not on Racquet Club Drive.

"Straight Outta Compton !"


Tue, 12/28/2010 - 16:39 | 834194 Lucius Corneliu...
Lucius Cornelius Sulla's picture

Lots of "bargains" in Detroit.

Tue, 12/28/2010 - 11:10 | 833295 cossack55
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HW. I junked you only because you deserved it.  My question to you, tho, is..... does the C/S report impact on my 100% cotton Teepee? It is my home, but all cotton.....what do you think?

Tue, 12/28/2010 - 11:13 | 833302 TWORIVER
TWORIVER's picture

they don't have the money and can't get the credit Harry, thats why. I wished that I lived in whatever little happy corner of he world you live in because it ain't like that where I am or anywhere else from what I see.

Tue, 12/28/2010 - 11:55 | 833463 GreenSideUp
GreenSideUp's picture


Same here.

Tue, 12/28/2010 - 11:36 | 833386 bob_dabolina
bob_dabolina's picture

Shut it Shit Banger.

Go back to selling your toilet bowl lids or whatever you do.

Tue, 12/28/2010 - 11:47 | 833432 Fearless Rick
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Harry Wanqer (not the real Harry), with all due respect to the mentally-challenged, you are retarded. Those $90K homes will be worth $60K in a few years and the $100K homes worth maybe $70K. Housing is still in need of a 25-30% haircut before it even comes close to affordable, which, if you want to use a simple (old) rule of thumb, should be 25-30% of take home pay, not gross, which gets whittled to nothing by FICA and the rapacious tax code.

You make $40K, after taxes, plus maybe a refund, you take home maybe $30K. That's $2500 a month. Your mortgage, real property taxes and insurance should be in the range of $600-750 a month. A $100,000 home with 20% down, 80K financed over 20 years at 5% with 1.5% property tax is roughly $650/month. Decent value.

Wages are not rising. More single earners. Prices have to drop into $60-75 range for affordability to the lower end of the earning class - $20-35K, a growing demographic.

Tue, 12/28/2010 - 11:56 | 833466 Eternal Student
Eternal Student's picture

So, let's see how many fools don't realize that you're not HarryWanker, but someone else getting tremendous jollies out of posting as a look-alike, namely HarryWanqer. I see you've fooled 5 so far.



Wed, 12/29/2010 - 03:09 | 835212 Miles Kendig
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You must live out beyond the Pocono's

Tue, 12/28/2010 - 11:04 | 833267 Caviar Emptor
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Note the underwhelming rush to dollars in response to global gloom. Translated, they're getting dumped as fast as repatriation of hot money. This is extremely gold bullish

Tue, 12/28/2010 - 11:05 | 833268 wiskeyrunner
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No such thing as a down stock market, stock index will close green everyday this week.

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