House prices continue to fall in New York metro area (NY Times) (Beverly: 2009, hotels)

[Lusitan]

Housing values in New York metro area continue to fall, per the Case-Shiller index of home prices.

http://www.nytimes.com/2009/04/01/bu...01econ.html?hp

The "good news" is that the rate at which home prices are falling in New York slowed down a little; home prices continue to fall in New York metro.

You can see the Case-Shiller numbers for yourself here:

S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Home Price Values

Looks like New York is back to 2004 prices, and still falling.

[clevedark]

Oh goody!

[JG183]

The media should report only positives for all economies for the next 2 weeks.

Across the board and across the world.

If they cannot find positives then report other news.

Watch how fast consumers start to come around.

We basically are spinning ourselves deeper & deeper into this recession, and 50% of it is psychological.

I just got back from a 2 week business trip to the southwest U.S., and I didn't see any signs of a "depression". Aside from some dead towns that looked like they were abandoned in the 80's, many of these small towns my team drove through were thriving. We couldn't even get good deals on hotels/motels in many places (and they seemed to have plenty of customers).

[metaljaybird]

You just have to live life as it goes. With the way our economy is designed, it has its ups and downs. If you want to predict how bad a recession will be, look at the boom years, as good as it was usually equates on the opposite as to how bad it will be.

[tahiti]

The Only Way Out Of This Crisis Is To Build More Houses | The Onion - America's Finest News Source

[halfoffpeak]

Originally Posted by Lusitan

The "good news" is that the rate at which home prices are falling in New York slowed down a little; home prices continue to fall in New York metro.

There is no "good news". The rate of home prices decrease is increasing, i.e. home prices are falling FASTER

Month NY CS YOY Change
Aug-08 193.48 -6.61%
Sep-08 191.66 -7.13%
Oct-08 189.68 -7.71%
Nov-08 186.54 -8.72%
Dec-08 183.57 -9.16%
Jan-09 181.28 -9.56%

[PDD]

I really feel sorry for those who have to sell because of job loss or any financial difficulty. You will become the victim of bottom feeders who would never pay fair market value and now want to live in your fine neighborhood.
Here come the Beverly Hillbillies .

[ghuber]

Originally Posted by JG183

The media should report only positives for all economies for the next 2 weeks.

Across the board and across the world.

If they cannot find positives then report other news.

Watch how fast consumers start to come around.

We basically are spinning ourselves deeper & deeper into this recession, and 50% of it is psychological.

I just got back from a 2 week business trip to the southwest U.S., and I didn't see any signs of a "depression". Aside from some dead towns that looked like they were abandoned in the 80's, many of these small towns my team drove through were thriving. We couldn't even get good deals on hotels/motels in many places (and they seemed to have plenty of customers).

Though I don't normally agree with your posts, I do agree with you on this point... the media is the WORST! They absolutely love gloom and doom. It also doesn't help all news media tends to be OCDish.

[ghuber]

Originally Posted by Lusitan

Housing values in New York metro area continue to fall, per the Case-Shiller index of home prices.

http://www.nytimes.com/2009/04/01/bu...01econ.html?hp

The "good news" is that the rate at which home prices are falling in New York slowed down a little; home prices continue to fall in New York metro.

You can see the Case-Shiller numbers for yourself here:

S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Home Price Values

Looks like New York is back to 2004 prices, and still falling.

Back to October 2004 prices... That doesn't quite align with other numbers I've looked at. You never know who to believe!

[Lusitan]

Originally Posted by halfoffpeak

There are no "good news". The rate of home prices decrease is increasing, i.e. home prices are falling FASTER

Month NY CS YOY Change
Aug-08 193.48 -6.61%
Sep-08 191.66 -7.13%
Oct-08 189.68 -7.71%
Nov-08 186.54 -8.72%
Dec-08 183.57 -9.16%
Jan-09 181.28 -9.56%

You're right, the year-over-year price decrease rate has increased. But I guess that the month-to-month price decrease rate (which is really meaningless) has slightly decreased.

But it's all still horrible news for the housing market cheerleaders, which is why I put the word "good" in quotes.