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Interesting numbers, it is three months in a row of price increases for many of the cities (I only looked 3 months back). I understand the seasonality of Real Estate, but at least there are a few months of price increases in many cities, as I expect slight declines over the winter. My take is we are very near the end of much of the housing problem in many parts of the country (not including parts of CA, NV, FL, AZ, which had the worst lending practices around).
I was clicking on a few links reading some articles and I came across the following, which was interesting, and I found to be humorous (laughing at our problems, I guess). Anyway, this guy's take is interesting, he seems pretty bearish on our economic policies.
i.e.: The African country was “run by a money printer, Mr. Mugabe, a mentor of Mr. Bernanke,” Mr. Faber said.
Interesting numbers, it is three months in a row of price increases for many of the cities (I only looked 3 months back). I understand the seasonality of Real Estate, but at least there are a few months of price increases in many cities, as I expect slight declines over the winter. My take is we are very near the end of much of the housing problem in many parts of the country (not including parts of CA, NV, FL, AZ, which had the worst lending practices around).
I was clicking on a few links reading some articles and I came across the following, which was interesting, and I found to be humorous (laughing at our problems, I guess). Anyway, this guy's take is interesting, he seems pretty bearish on our economic policies.
i.e.: The African country was “run by a money printer, Mr. Mugabe, a mentor of Mr. Bernanke,” Mr. Faber said.
These prices increases are not seaonally adjusted. They always rise in the summer. And with the added tax credit this "increase" is pathetic.
This winter prices will plummet again. it is going to be a harsh cold winter in the northeast. The tax credit will probably expire, job losses continue to mount and foreclosures are still in the pipeline. So there is no further housing recovery. The market recovered when it dropped the 30% bubble value.
This is/ will be the housing market for the next 7-10 years. Rightfully so considering the housing market was very sick from 2002-2007.
These prices increases are not seaonally adjusted. They always rise in the summer. And with the added tax credit this "increase" is pathetic.
This winter prices will plummet again. it is going to be a harsh cold winter in the northeast. The tax credit will probably expire, job losses continue to mount and foreclosures are still in the pipeline. So there is no further housing recovery. The market recovered when it dropped the 30% bubble value.
This is/ will be the housing market for the next 7-10 years. Rightfully so considering the housing market was very sick from 2002-2007.
I understand the numbers are not seasonally adjusted, that is why I pointed that out in my previous comment. My comments were surronding about 40-45 states, excluding the worst offenders of the bubble. I also believe that parts of the NE have not corrected, yet. In many markets housing prices are at pre-bubble prices today and the economy, while weak, is not in shambles (like Detroit). I guess my view is our economy will begin picking up next year, which is probably where we disagree.
I understand the numbers are not seasonally adjusted, that is why I pointed that out in my previous comment. My comments were surronding about 40-45 states, excluding the worst offenders of the bubble. I also believe that parts of the NE have not corrected, yet. In many markets housing prices are at pre-bubble prices today and the economy, while weak, is not in shambles (like Detroit). I guess my view is our economy will begin picking up next year, which is probably where we disagree.
It depends how you define "picking up". the economy will be better then it was six months ago but not by much. There is still a grave danger of a double dip in the next 18 months.
And here is a take on todays numbers that makes sense to me:
There will be more foreclosures this year than last. There will be more in 2010 than in 2009. Unemployment is moving up..........Avoid the media cheerleaders, and take a dose of reality. It is still the fourth inning.
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