U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-28-2009, 07:30 AM
 
1,983 posts, read 7,097,661 times
Reputation: 412

Advertisements

And the final nail in the coffin for the bears. Their own survey, case-shiller, shows home prices rose 0.5% in May, the first monthly increase IN 3 YEARS.

It's been fun but I told you the market was turning.

MarketWatch.com Story

Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-28-2009, 07:39 AM
 
179 posts, read 670,553 times
Reputation: 80
Oh my gosh! What are all the nay-sayers going to do for negativity? Where is "half off" and the gang?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 07:48 AM
 
1,983 posts, read 7,097,661 times
Reputation: 412
They've slowly peeled off but I told them for months this was coming. It is what it is.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:11 AM
 
Location: NJ
2,212 posts, read 6,692,309 times
Reputation: 2190
Did you read your own link? Prices DOWN 17% year over year.
Springtime monthly rise (the market always picks up in spring) isn't a trend.

Don't forget the moratorium on foreclosures in NJ either -that is about to end.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:15 AM
 
19 posts, read 52,648 times
Reputation: 18
So what happens now to NJ real estate - is it rock'n'roll time again?

Is the recession over now?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:17 AM
 
Location: Montgomery County, PA
2,771 posts, read 5,902,874 times
Reputation: 604
Quote:
Originally Posted by Older&Wiser View Post
Oh my gosh! What are all the nay-sayers going to do for negativity? Where is "half off" and the gang?
Being "positive" about a market that is clearly going down is not "positive", it's just plain dumb.

Those who take the position that they're "positive" or "negative" regardless of the facts are intellectually dishonest.

I can't speak for anyone else, but I'm looking at houses. I think the moves to prop up prices are finally starting to work.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:18 AM
 
Location: Montgomery County, PA
2,771 posts, read 5,902,874 times
Reputation: 604
Quote:
Originally Posted by MoorestownResident View Post
They've slowly peeled off but I told them for months this was coming. It is what it is.
Not months, but years. You were screaming "now is the time to buy" when it was actually the time to sell.

A stopped clock is right twice a day.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:20 AM
 
1,983 posts, read 7,097,661 times
Reputation: 412
Quote:
Originally Posted by AnthonyB View Post
Did you read your own link? Prices DOWN 17% year over year.
Springtime monthly rise (the market always picks up in spring) isn't a trend.

Don't forget the moratorium on foreclosures in NJ either -that is about to end.
Has nothing to do with it. What it means is a wonderful buying opportunity with prices now improving.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:22 AM
 
1,340 posts, read 3,511,765 times
Reputation: 450
I hope this is the turn for a stabilzation in house prices. The true test will be this fall/winter to see if these prices hold or if the offseason will cause another drop/dip.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2009, 08:24 AM
 
744 posts, read 1,316,349 times
Reputation: 182
Yes the Bears must be very worried. The non-seasonally adjusted case-shiller numbers went up in summer!

I can't help but noting that when the national news is better than the NJ news the cheerleaders ignore the "all real estate is local" argument they make when the NJ news is better.

For NYXR the number went up by 0.018%, this isn't the first time in 3 years (that's the national number...) since in June 2008 the NYXR number went up by 0.27% (yes 15x more than the increase being trumpeted now). We need to wait for the June and July numbers to be able to see if the 2009 summer bounce will be higher than the 2008 summer bounce (in relative terms, not in absolute terms obviously).

If we use seasonally adjusted numbers (as I'm sure the cheerleaders all were in winter) then the NYXR case-shiller number dropped from 171.22 to 170.99 for a 0.13% decline. Note the seasonally adjusted number last increased in March 2007 for NJ (January 2007 nationally).

Of course when I say nationally with respect to case-shiller I mean their overall composite-20 which isn't actually national by any stretch of the imagination.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Jersey

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top