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Old 03-31-2009, 02:39 PM
 
1,552 posts, read 4,618,518 times
Reputation: 509

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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.
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Old 03-31-2009, 02:56 PM
 
2,312 posts, read 7,497,027 times
Reputation: 908
Oh goody!
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Old 03-31-2009, 04:00 PM
 
Location: New Jersey
4,150 posts, read 5,006,503 times
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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).
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Old 03-31-2009, 04:06 PM
 
512 posts, read 1,749,789 times
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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.
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Old 03-31-2009, 04:49 PM
 
Location: NJ
12,283 posts, read 35,575,538 times
Reputation: 5330
The Only Way Out Of This Crisis Is To Build More Houses | The Onion - America's Finest News Source
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Old 03-31-2009, 05:07 PM
 
263 posts, read 522,778 times
Reputation: 34
Quote:
Originally Posted by Lusitan View Post
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%

Last edited by halfoffpeak; 03-31-2009 at 05:39 PM..
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Old 03-31-2009, 05:34 PM
PDD
 
Location: The Sand Hills of NC
8,773 posts, read 18,292,121 times
Reputation: 12001
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 .
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Old 03-31-2009, 05:35 PM
 
268 posts, read 759,210 times
Reputation: 72
Quote:
Originally Posted by JG183 View Post
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.
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Old 03-31-2009, 05:39 PM
 
268 posts, read 759,210 times
Reputation: 72
Quote:
Originally Posted by Lusitan View Post
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!
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Old 03-31-2009, 05:42 PM
 
1,552 posts, read 4,618,518 times
Reputation: 509
Quote:
Originally Posted by halfoffpeak View Post
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.
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