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More on Case-Shiller: Home prices (the 20-city composite) gained 6.8% for all of 2012, the best...

More on Case-Shiller: Home prices (the 20-city composite) gained 6.8% for all of 2012, the best performance since 2006. However, with prices on the upswing for nearly a full year now, the days of easy comparisons are over. "The strongest numbers may have already been seen," says S&P's David Blitzer. SPY +0.5%, QQQ +0.3% premarket. (full report)
Comments (12)
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    I live 20 minutes from manhattan in a neighborhood with decent schools and average median home prices of 400-450k. I see signs for sale go up and nothing gets sold. It's all still smoke and mirrors
    26 Feb 2013, 09:37 AM Reply Like
  • The_Hammer
    , contributor
    Comments (3957) | Send Message
     
    hitesh must live in a judicial state where deadbeats living in house for 3-4 years for free without foreclosure. check in with your town how much in tax delinquencies.
    26 Feb 2013, 10:39 AM Reply Like
  • Hitesh Patel
    , contributor
    Comments (314) | Send Message
     
    You are correct hammer, i do know of a few neighbors who in fact have not paid a mortgage, taxes or insurance payment for over 3 years. I am looking to buy a slighlty bigger home but can't get myself to do it knowing i'd be paying an artificially higher price
    26 Feb 2013, 10:44 AM Reply Like
  • The_Hammer
    , contributor
    Comments (3957) | Send Message
     
    mcmansion craze coming to end as efficiency and downsizing dominate. some of the most beaten down areas 60-70% are bouncing. the bounce will end soon as investors push them past true values for home buyers. many areas of the country still do not cashflow with rents.
    26 Feb 2013, 10:56 AM Reply Like
  • moneyTalksBSWalks
    , contributor
    Comments (193) | Send Message
     
    In most non-judicial states, a foreclosure matter is still allowed to become judicial.
    26 Feb 2013, 12:29 PM Reply Like
  • june1234
    , contributor
    Comments (2585) | Send Message
     
    No kidding. JP Morgan Chase just announced they were laying off 13 to 15,000 workers from their mortgage division by 2014 , not the securities one but the bread and butter mortgage issuance one. Must be part of that housing recovery JP Morgan sees down the road
    26 Feb 2013, 09:47 AM Reply Like
  • yv204
    , contributor
    Comments (165) | Send Message
     
    Untrue. Those laid off were hired temporarily to deal with the 2008-2009 mortgage remediations. These workers had nothing to do with the regular "bread-and-butter" mortgage operations.
    26 Feb 2013, 01:06 PM Reply Like
  • pollyserial
    , contributor
    Comments (1069) | Send Message
     
    In California I just got outbid on a condo in Oakland at 10% above asking, which was already 20% above last year's price. It's insane out here. But probably not sustainable.
    26 Feb 2013, 12:51 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3957) | Send Message
     
    U should be grateful for the greater fool. The govt has destroyed any semblance of capitalism in housing market.
    26 Feb 2013, 01:14 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    And has made a mockery of property rights.
    26 Feb 2013, 01:49 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3957) | Send Message
     
    also freaken private equity firms and bankers pooling money to buy up houses. what is this? This S$#! should be disincentivized by higher cap gains taxes or something. These are not real buyers. Houses are meant to be affordable and living space not speculation. i did not compete with these sharks in early 1990's house bust.
    26 Feb 2013, 01:56 PM Reply Like
  • rachaelp
    , contributor
    Comment (1) | Send Message
     
    I agree with Hammer. I live in Santa Cruz Ca and work in San Jose. A real estate friend told me she had 28 offers for one of the homes she was representing. 14 of those were cash offers, and it was sold to an investor after it was bid up $50,000 more.
    8 Mar 2013, 03:33 AM Reply Like
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