U.S. Aug. Case-Shiller home prices up 1.2%

U.S. home prices down 11.3% in past year

 

Are you going to spend part of your year-end bonus on a New York City condo?

 

All RE prices are totally bullshit.
Neighbor listed for $720k in May, just took $510k.

 

Property taxes should go up inversely to the value of the home price. There will be no bargains.

 

Do not worry they are extending the housing credit again, they need to keep housing prices propped up to show the bottom is in.....

 

Housing prices

——————% change from 1-Year Ago——————
$0-100K $100-250K $250-500K $500-750K $750-1M $1M+

U.S. 22.5% 6.0% -5.2% 4.0% -2.6% -1.2%

Northeast 4.9% 16.6% 2.7% -5.4% -8.0% -1.0%
Midwest 4.8% 4.0% 2.5% 15.0% -13.8% -15.4%
South 28.1% 6.0% -4.1% 1.3% -1.3% 1.3%
West 116.1% 2.7% -13.6% 9.2% 1.4% 0.2%

from Bloomberg article yesterday

Depending where you live and what category you fall in, you either have bottomed or still looking for it.

 

Factor in the 15% decline in the value of the USD for the year and the picture becomes even clearer.

 

Keep in mind that 15% decline in the dollar is not completely accurate, as there was a massive rally in the dollar because of hedge fund redemptions (>2/3 of the world's hedge funds are dollar-based) and flight to quality.

 

True