This page has been archived and commenting is disabled.
Case Shiller Home Price Index Declines For Third Month A Row: Longest Negative Stretch Since March 2012
Another month, another sequential drop in the Case Shiller NSA index - the one the index creators themselves say should be used, not the Seasonally Adjusted data used by most commentators eager to find the best data. At a sequential decline of -0.08% in January, this was the third drop in a row - the longest consecutive period of sequential declines since March 2012 - and post a year over year increase of 13.24%, down from 13.38% in December, and the lowest since September 2013. Clearly, the pricing gains across the country are slowing.
Amusingly, not even the Seasonally Adjusted data showed the complete "weather-free" data many were hoping for, because while sequentially the 20 City Composite Index beat on a squential basis at 0.85%, above expectations of 0.6%, the Year over Year increase of 13.24% missed expectations of 13.42% and was down from 13.38% last month.
»
- 7725 reads
- Printer-friendly version
- Send to friend
- advertisements -
War On Wood: WHO Claims 3.5 Million Killed From Wood Stoves
http://survivalbackpack.us/war-on-wood-who-claims-3-5-million-killed-fro...
TY for link (I think), these pyschopaths won't stop until they have all of humanity living in 10'x10' concrete cells, or dead.
wood stoves are dangerous. you can't take one on an airplane?
idiot. Find a semblence of a proper venue.
You'll get my wood when you pry it from my cold dead hands.
Oh, I get it.
Hopefully the mortician does pry it from your cold dead hands so your family can have an open casket funeral.
amazing that government cannot do what it is supossed to do, but has its fingers and hands in everything else.
In a real business, that would be called a lack of leadership direction, focus and accountability.
Another way of viewing it is not paying attn to the critical success factors.
Role liar loans in 3.. 2.. 1..
Hey this time around, I may do a NINJA loan myself! Hey you can't lose, FED always got ya back.
Tent-up demand.
One way to avoid ever increasing property taxes. People lease their land and never really own it.
Philly housing index rolled over at the end of Feb
http://bullandbearmash.com/chart/philly-housing-index-daily-falls-channe...
Currently sitting at 196. Looks like deflation is picking up momentum - again.
There are more homes on my jogging path each week. I usually jog in the same area.
And if you read the CNBC article about this, it's exactly the opposite. "US home prices gain in January, shrugging off brutal winter"
bullish
All about perception. Eventually the math trumps perception.
Wall Street and NAR are at it again. Pump up housing.
Housing bubble #2 is about ready to burst.
While sequentially the 20 City Composite Index beat on a squential basis at 0.85%, above expectations of 0.6%, the Year over Year increase of 13.24% missed expectations of 13.42% and was down from 13.38% last month.
Then somebody can't do math. You can't simultaneously beat on the monthly rate while missing on the annual rate, unless the estimates were inconsistent.
Who is making these projections anyway -- professional Realtors(TM)? There's your problem ...
Residential RE rising at anything above 4% is a fool's paradise. In this environment, with low inflation, 13% y-o-y is absurd and obscene.
RE bubble 2.0 about to go POP this summer.
I suspect a coming housing dump has more to do with joblessness than low inflation. And also all those Wall Street momos dumping all their cash investment RE purchases at the very bottom.
This is the predicted "re-acceleration" that was supposed to multiply on top of the previous acceleration of economic improvement that some 20 year old from Goldman warned us about in the same breath that he declared WW3 was "transient".
but CNBS has this headline
Home prices extend win streak in January: S&P/Case-Shillerry: S&P/Case-Shiller
If investors have pulled back and first time home buyers don't qualify, who is buying? The Russians? The Chinese? Eric Holder (he's awash in bribe money and misappropriated funds)?
The answer is ... fools who voted for Obumster
>> fools who voted for Obumster
You mean the fools who voted for Romney are not buying?
+1 Great Beard
The sane of us need to call out the incessant Read Team cheerleading that's poisoning this site. Everytime I read shit like "Reagan ended the Cold War" (propoganda bullshit as the Soviets were dying from the inside by the mid 70's) I get sick. Smart enogh to read Zero Hedge but stupid enough to fall for .gov propoganda as long as it's from Team Red. Cognitive dissonance is so dangerous...
who is buying? tail end of want a be landlords, mom and pop jonnie come lates, move up buyers with a real job that finally got there home sold; to name a few. remember most sheeple don't know wtf...all good in the neighborhooooooooood!
for rational price understanding i take the 30 yr fixed interest rate and factor the average pi for average price and get a result. then look at income. then look at percentage cash vs financed. that will give me a result that tells the true story.
also the hard part is the pipeline of foreclosures and composite of cash sales.
imo the market is overheated, but with the bond curve flatening and signaling higher rates as tellen the yellen said, homes will continue the march to a price drop by an event unanounced and sudden...
Sounds like Common Core maths to me.
Tell that to the over $600k homes in the Fairfax County area that have contracts stacking up like never before. Shit is nuts around here. Homes are going for $50k over asking price. Anything reasonable in Prince William sells in a day. It's remarkable just how much money there is in the nice areas outside DC. It's impossible for the rest of us to ever hope to own a home in a neighborhood here that's not illegal alien/section 8 infested.
A friend from Montana saw a typical Tuxedo Party at the Mayflower, and commented that she had never seen a tux back home. They have all of our money. This too shall pass.
That read like a haiku
30 year mortgage rate just spiked nearly 1/2%. Why?
Mr market still lives?
Yes I was wondering why myself and came here for an answer only to find your question and no answer.
Markets are coming to realize the dealer really is shutting off the supply. No more FED monetary meth means mortgage rates to 5.5% plus by early 2015, over 6% by late I'll bet. You think the realt-whores and SFH specuvestors would have learned from the last bust, the FED doesn't give a fuck about them. Sure they'll bubblize their asset class when convienient, but they'll tank it just as quickly when it suits them. 2015 is going to be a more focused decline than 2008 as the risk isn't spread among oh so many fucked borowwers. The specuvestor rush for the exits should be quite entertaining.
i was just quoted; 30 yr 4 1/2 percent, zero pts, with 3/4 pt origination.
5:1 arm 3.25 rest the same
Better sign today then.
http://www.bankrate.com/funnel/graph/
i can't find a home that is't over priced or sold within a few days of coming on the market.
see your chart and i am alarmed, except, since i am renting mo to mo, i may not buy.
something will give at 5 percent-the pool of buyers dries up and then the fun begins!
thanks bnbdnb -beter not buy dumb nuuub?
You bet. The acronym? Its my name and my favorite music.
13% increase YOY is huge. How can anyone call this anything but a housing recovery?
Monthly data is not relevant generally. YOY is what matters due to seasonal distortions.
Many local markets saw strong increases in the second half of 2013. This year has started out strong in Colorado but there are many blinking lights on the panel that indicate trouble ahead:
This will not end well.
Our RE market was called out for being one of the worst. Not for being a "bad" market, per se, but because only the very expensive homes are selling. The middle class homes take forever to sell as there are so many illegally foreclosed on homes in that market.
Easy money bubbles are a bitch to unwind from. Now...factor in that NO ONE is gettng any meaningful raises, obamacare, inflation, loss of benefits and NO new home buyers (unless subsidized by "affordable" city backed housing) and we are going to be stagnant for a while. OH yeah...fuck all those hedge fund buyers and their rentals. If I lived in one of those I would be a horrible tenant.
It's the weather.