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Unread 07-28-2009, 08:42 AM
 
64 posts, read 82,429 times
Reputation: 26
Default Home Prices

How could this possibly be?

Home price index of 20 cities in 1st monthly rise since 2006 - Jul. 28, 2009
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Unread 07-28-2009, 10:40 AM
 
1,303 posts, read 1,963,853 times
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Quote:
Originally Posted by paulyc44 View Post
It is just one month to month uptick...year over year is still down 17%. Could simply show that the decline is lessening, more than any sort of upswing. Lies, damn lies, then statistics. The housing market is going to be in stagnation at best for a very long time until some equilibrium is reached and people start getting hired again.
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Unread 07-28-2009, 09:42 PM
 
95 posts, read 107,829 times
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The following graphs tell the story a bit better, as taken from here: http://blog.redfin.com/newyork/2009/...seasonal_gain/




Basically, this happened last year too. It's seasonal, and should happen every year. Home prices are not on their way back up, and we are still down year over year.

Last edited by MiddleIslander; 07-28-2009 at 09:57 PM..
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Unread 07-29-2009, 06:54 AM
 
Location: Little Babylon
3,502 posts, read 3,963,728 times
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Anyone been following ARM reset wave this year? What effect will it have on prices?

Article from 2007
MarketWatch.com Story

Article from 2009
Adjustable rate mortgages are adjusting lower - Feb. 6, 2009
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Unread 07-29-2009, 07:06 AM
 
167 posts, read 309,649 times
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Although I turn on CNN over most other news outlets - I take their stories, polls and statistics about as seriously as The Onion, but without the humour of course

The market is not in recovery mode and anyone who tells you differently has something to gain from that lie (property sellers, REA's, Banks, etc, etc)
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Unread 07-29-2009, 07:35 AM
 
64 posts, read 82,429 times
Reputation: 26
Quote:
Originally Posted by MiddleIslander View Post
The following graphs tell the story a bit better, as taken from here: Case-Shiller: NY Home Prices Eke Out Small Seasonal Gain | Just another blog.redfin.com weblog




Basically, this happened last year too. It's seasonal, and should happen every year. Home prices are not on their way back up, and we are still down year over year.
A much better picture indeed!
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Unread 07-29-2009, 10:33 PM
 
95 posts, read 107,829 times
Reputation: 16
Quote:
Originally Posted by ClarkStreetKid View Post
Anyone been following ARM reset wave this year? What effect will it have on prices?

Article from 2007
MarketWatch.com Story

Article from 2009
Adjustable rate mortgages are adjusting lower - Feb. 6, 2009

Here's a bit of news, specifically about New York.

"The GAO study released Tuesday predicts that the number of foreclosures on homes backed by subprime or low-documentation mortgages could easily double in the coming months or years, which could put tremendous pressure on housing prices throughout the city and suburbs."

Prepare for more foreclosures … many more - Crain's New York Business
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