July Case Shiller Beat And Missed At Same Time Just As Market Was About To Plunge

Tyler Durden's picture

The Case Shiller for July, that's right July (does anyone remember that? that's was before the US was about to go bankrupt due to that whole flap in Congress over the debt ceiling, nevermind the second European bankruptcy), is out and it was both better and worse than expected: the Y/Y print beat at -4.1% on expectations of -4.4%, up from a revised -4.4%, yet missing on a sequential basis, which was expected to come at 0.1%, instead printing at 0.05%, unchanged from the June's upward revised M/M 0.04%. In other words, this is not only traditionally late data, it also confirms that the double dip continued into the months that saw the market tumble by nearly 15%. Look for substantial drops in the August and September Case Shiller data.

Crawling along the bottom:

Case YOY:

Via Bloomberg

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Careless Whisper's picture

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caerus's picture

she's 63? dang...doesn't look like it

covert's picture

search for the bottom and get a few bargains.



monopoly's picture

We all know housing is dead, gone. Might bottom next year than languish for years. It is over. Plain and simple. You need a cave, that's it.

Silver gold feisty today. Maybe the trolls will leave us alone today with their talk about the mighty crap dollar.

101 years and counting's picture

"...just as market about to plunge"



Moneyswirth's picture

Case Shiller?  Meh.

Can't you see that futures are up a GAZILLION points pre-market????  BACK UP THE TRUCK BITCHEZ!!!

warchopper's picture

Prices continue to go down...when can I get 15x's leverage for a home equity loan? I have lot's of new cars, and other superfluous stuff I need to buy. On that note, when will I be able to lever my children's college funds? They should be good for about 30x's. I promose to invest all the money in BAC and BRK.A since they are both "undervalued". Maybe at the same time I can go out and buy a half dozen homes with the levered proceedings! The stimulus proceeds will be phenomenal! 

At some point in time, there might be a little issue about taxes, but don't worry, I'll get around to them from my small island in the South China Sea.


bania's picture

Schroedinger's cat meets Case Shiller.

Mitch Comestein's picture

I have a new clean energy idea.  Firewood burning cars!  Break off portions of your neighbor's old empty, underwater house and drive to work on it.  Saving the environment and solving the housing market crisis in one shot.


Obama: you can use that line if you want.  However, you should say "Savin the environment and solvin the housin market crisis in one shot."

fdisk's picture

"Look for substantial drops in the August and September Case Shiller data. "

seasonal strenght months, will beat expectation as well.

Where is that f* guys with pink T-Short? How's his shorts are doing?


Snakeeyes's picture

CS flat SA but op +0.9% NSA for July.

This is important because of the rhetoric from NAHM, NAR, and Barney Frank that conforming loan limits have to be increased.


Besides, the economic news is dreadful and watch for the September numbers!!!!! BAD!