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Case-Shiller Home Prices Rise Over 5% YoY To 7 Year High
Despite stagnating incomes, record low home-ownership, surging interest rates, and stalling employment data, home-prices in America rose 5.04% YoY in March - the biggest jump since August - as overseas money floods into American real estate and crushes the affordability dream for Hillary's 'everyday American'. No surprise, San Francisco and Denver reported the highest year-over-year gains, with price increases of 10.3% and 10.0%, respectively, over the last 12 months. This is the highest home price index since Feb 2008.
Biggest YoY gain since August...
Pushed prices to their highest sicne Feb 2008...
A more detailed breakdown of the Sequential...

... and Y/Y data:

From the March data:
Both the 10-City and 20-City Composites saw year-over-year increases in March. The 10-City Composite gained 4.7% year-over-year, while the 20-City Composite gained 5.0% year-over-year. The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a 4.1% annual gain in March 2015 versus a 4.2% increase in February 2015.
San Francisco and Denver reported the highest year-over-year gains, with price increases of 10.3% and 10.0%, respectively, over the last 12 months. San Francisco’s 10.3% annual gain is its first double digit year-over-year increase since July 2014. Dallas reported a 9.3% year-over-year gain to round out the top three cities. Ten cities reported higher price increases in the year ended March 2015 over the year ended February 2015. Tampa led the way with a reported increase of 1.4%. Ten cities saw their prices decrease annually, led by Cleveland, down 1.2% in the year ending March 2015.
This is where the biggest price appreciation was according to Case Shiller: it appears that as a result of the unprecedented second dot com bubble and China's relapse in its credit ways, San Francisco is once again back at the forefront of all major gains in the US, with home prices rising 3.0% in March, followed by 2.3% in Seattle.
But before this "good news" is seen as too good, at the same time the FHFA reported that its house price index in March rose 0.3%, below the 0.7% expected, and below the 0.7% increase posted last month.
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Hot money! Time to take out a home equity loan!
"No credit? Bad credit? No down payment? No problem! Get a 100% LTV! Just sign here..."
[History shows us that,... we learning nothing from history...]
You joke but there's a commercial on TV in my area offering exactly that. Only for veterans- it's a VA loan program.
But if you know a veteran or know somebody that knows a veteran, they've got a plan for you.
Throw out Hedge Fund and Private Equity purchases and re - calculate. See where that number is.
Home prices are up because the recovery is firmly entrenched - duh!
Cool. I can buy now. Thanks
hope some greek don't own or buy: the check will bounce....
"Greece is considering a 15 percent levy on undeclared foreign deposits, and double that rate on undeclared deposits in domestic banks, as an enticement for tax-dodgers to legalize assets.
Finance Minister Yanis Varoufakis says he is also thinking of imposing a charge on cash withdrawals from bank ATMs and on over-the-counter transactions, to encourage electronic banking and fight widespread tax evasion."
fighting evil paper and coin money: electronic banking seems to be the goal of the elite..jump mother fuckers, jump
Things that don't happen any more: You don't buy bonds for their yield, you don't buy commodities because you think the economy is "recovering" and you damned sure don't buy houses to live in.
Anybody who calls buying a house an "investment" is a damned fool.
Not my middle-class home in N.C. It hasn't appreciated in 8 years.
Home prices are up, because the middle class can't sell to move up as they have no real earnings gains. Home prices are also up because some fence sitters thought it would be a good time to move before interest rates go up. Finally, Spring is the selling season. First time home buyers are a perfect example of a poor housing market as many are still blocked from entry.
The oceans of sheeple, who for years has let the government run taxes through the roof, thinks that somehow the college student who just graduated and is presently bartending has the money to pay off a college loan, buy a car, get married, plan for a family, choke down all the new Obamacare taxes, AND buy your house for your asking price AND pay the outrageous taxes. Well, we all know where this is going to end up.
Forget about the college student who is presently bartending. They're living with their parents or in an apartment with 3 other friends living the YOLO life.
The college graduate who majored in engineering and making 60k (before taxes) is the guy trying to pay off a college loan, buy a car, get married, plan for a family, choke down all the new Obamacare taxes, and buy a house. This guy is going to find out that the middle class life is impossible to afford on what used to be a comfortable middle class salary.
http://cafferyrealestate.com/rets/LA/YOUNGSVILLE/70592/9915933/220-PALFR...
A DR Whorton home in Lafayette la 1245 sq ft on less than a 4k sq ft lot Mexican built to bare minimum code
popping up like mushrooms..
Thats $169 a sq ft
Fuck That ...this whole area is energy/oil related , all the big players ..and they just keep building..
Print
To be revised downward soon...This message brought to you by your friends at NAR.
Denver is going to skyrocket now...becuse I finally sold my condo last week...now watch the prices zoom....damit...but hey...I am buying gold and silver with the proceeds...that cant go down....oops...damit
Denver seems like one of the few healthy markets?
Healthy? Ummmm, not sure I'd call it healthy. I am thankful though as my home is officially going on the market today (I'm in Denver). I'm probably going to sell it within the week and there is a very good chance that a bidding war erupts over my nice, suburban Centennial home. The poor bastards who take it off my hands will have overpaid by at least $150K based on the real value of the 1982 4 bedroom home. Yaaay for idiots.
So prices are recorded and ballyhooed but what about volume? Trend data for sold in how many days of listing? at what percentage of original asking price? How many new jobs per local SMA in the past 90 days and the trend is? I gotta know stuff like this before I get a thirst for RE flipping.