Comments on: Case Shiller: Home Prices Fall More Slowly

By: clarus

clarus — Wed, 28 Oct 2009 17:58:46 +0000

It really does depend on the city and the coast that you’re on. Greater Los Angeles, as a whole, saw a 6.4% increase in median price through the Realtors’ multiple listing service data from August to September. While year-over-year is still showing a 13% decrease. These national market stats are up at http://www.mlscloud.com.

By: ashpelham2

ashpelham2 — Tue, 27 Oct 2009 19:50:16 +0000

If all of the construction that has purportedly stopped during this downturn has truly “Stopped”, then we should be seeing quite a loss of new homes on the market. Not that this can make up for what was built and unsold, and what was bought but not paid for.

Perhaps with continued weakness in new construction, equilibrium might be approached…

By: The Curmudgeon

The Curmudgeon — Tue, 27 Oct 2009 18:31:09 +0000

Its Me…Don’t feel bad…same here. I can only see the computer screen because it sits far enough away from my eyes.

By: Mannwich

Mannwich — Tue, 27 Oct 2009 18:02:43 +0000

@Curm: I think he’s a pretty fair reflection of many of us. ;-)

By: Its Me

Its Me — Tue, 27 Oct 2009 17:47:19 +0000

Duh!

Ever since I turned 45 my eye don’t focus. I am either wearing contacts and reading glasses or my nose is against the screen i.e. I can’t type.

By: The Curmudgeon

The Curmudgeon — Tue, 27 Oct 2009 17:40:41 +0000

“Homer” Owner’s Association? Captures things perfectly. Not that I don’t love Homer Simpson. He’s too often a pretty fair reflection of me.

By: Tuesday links: stock price fragility Abnormal Returns

Tuesday links: stock price fragility Abnormal Returns — Tue, 27 Oct 2009 16:52:43 +0000

[...] August Case-Shiller home price numbers show a modest month over month gain. (Calculated Risk, Big Picture, Curious Capitalist, Free exchange, [...]

By: Its Me

Its Me — Tue, 27 Oct 2009 16:44:53 +0000

Homes have turned into investment grade assets. No longer are they places to live and raise a family they are now wholly desired as financial instruments to increase wealth.

Hence, the government’s concern regarding the manipulation of interest rates and tax deductions. After all wealth must be managed and monitored.

The wonderful world of Homer Owners Association reinforces this notion. With these arrangements you can be fined or even worse if your child leaves his bike out overnight or your wife plants the wrong type of tree. Heaven forbid should someone else’s nearby financial wealth engine be damaged by these dastardly deeds.

By: DeDude

DeDude — Tue, 27 Oct 2009 16:33:07 +0000

A huge number of Boomers who were counting on their payed off homes and social security to take them through retirement, will be very angry if housing falls substantially below current level. Do not expect politicians to back away from supporting house prices – there is a lot more than bankrupt finaincial institutions and pension funds on the line.

By: Onlooker from Troy

Onlooker from Troy — Tue, 27 Oct 2009 16:27:16 +0000

Curmudgeon

My thoughts exactly. Celebrating the fact that we’ve thrown billions of taxpayer money at the housing market to prop it up and not only prevent it from rationalizing prices but actually (ostensibly) turning prices back up making them more unaffordable, is just crazy talk. Of course it’s all about protecting the banks, the housing and realty business, and homeowners who paid too much for their houses. But at the expense of all others.

Insanity that’s celebrated, even by some of those who hurt by it but are unaware of the true ramifications; due to their swallowing of the propaganda spewed by the govt and the MSM.