Home Prices Drop 0.5 Percent in July from June: FHFA

Home Prices Drop 0.5 Percent in July from June: FHFA

_______________________________________________________

YEP, RECESSION IS OVER!

 

Let's have a party....if we can find a place that isn't foreclosed. Then we need to wait for everyone to pick up their unemployment checks and food stamps to buy food/drinks for the great "Recession is Over" shindig this weekend...

 

Holtz-Eakin approximated, texting back a formula that might serve as the theme song for tax year 2011: “39.6 + 2 (phaseout of pep and pease) + 3.8 (Medicare net investment income tax) = 45.4. Add in state-level taxes and 50 is easy to reach.”
-------------------------------------------------------------------------------

Yes and the door prize for attending this "SHINDIG", the above tax equation.

Oh yea, runner up middle class....they get a nice tax burden as well...don't think the middle class will get off scott free.....but don't tell SCOTT.

 

Lower home prices are always a good thing.

 

Dumb blanket statements are never a good thing.

FWIW, home prices need to keep dropping and hopefully the gov't won't try any more shenanigans like "home buyer credit" to prop them up. But it won't be an easy or pain-free process and there are negative consequences for awhile.