Time’s Justin Fox goes color crazy on this version of the Case/Shiller Housing Index:
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Wheee! Look at all the petty colors!
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Source:
The real estate bust in all its many colors
Justin Fox
Time, October 30, 2007 2:55
http://time-blog.com/curious_capitalist/2007/10/the_real_estate_bust_in_all_it.html
can you supply the 3D glasses?
I actually have a stash of 3D glasses (they were giving them out at the Time & Life cafeteria to promote some Cartoon Network show), and just tried looking at the chart through a pair. It made my eyes hurt.
Poor Detroit. If we were to look at this chart on nation’s currency–over the same period, the US would be Detroit (though the line pitch would be more nauseating).
But doesn’t this show that the doom and gloom is a bit overdone? We’ve seen all sorts of pretty charts showing the areas most affected by foreclosures etc. which show CA, and FL nd NV to be the major ones hit. But look at this latest chart. They are off their highs, but I think it is a safe assumption that MOST people in those areas did not buy in late 2006 and are therefore NOT looking at a realized loss even if they were to sell the house tomorrow. I’m not saying that housing isn’t getting kicked in the teeth but come on, put it in context as this chart does. Look at how the cities that had the boom are doing since 2000.
Gee, where have I seen that before:
Jul 25, 2007 The all-in-one Case-Shiller HPI
Sep 25, 2007 A bust without a boom
Oct 30, 2007 An update to the Case-Shiller home price index
Here the Research Triangle (Raleigh-Durhan-Chapel Hill, NC) the bubble has just began. Bought my house near downtown about 9 months ago at $133 per sq ft.
The bank’s automated appraisal system now gives prices it at $205 per sq ft and most of the asking prices on Realtor.com start at $275 – $300 per sq ft.
Wouldn’t such charts be more useful on a logarithmic scale?
Wouldn’t such charts be more useful on a logarithmic scale?
Depends on the point you are trying to make ;)
Karl Smith –
I’m in RTP as well. I bet Wake county is much more likely to see that kind of increase than Durham county, where I live. We have homes in our subdivision that have been sitting for a looooong time. Now it may be that the pricing is an issue, but I haven’t seen a lot of sales action.
Are all these cities going to one day converge when the bubble pops?
Fingers of Instability part2?
Introduction This week we revisit some ideas on how change occurs. We are in a transition in the world