More on Case-Shiller: Prices for the 20-City Composite rose 8.1% Y/Y in January, with all 20...


More on Case-Shiller: Prices for the 20-City Composite rose 8.1% Y/Y in January, with all 20 cities higher - including NYC which went green after more than 2 years of negative returns. The gain brings national home prices to their autumn 2003 level, and about 30% below the summer 2006 peak. (full report)

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Comments (10)
  • kwm3
    , contributor
    Comments (2454) | Send Message
     
    Isn't this the primary cause of our ills? People leveraged income at ever higher and higher levels to "pay up" for a house; in some cases 65% debt to income, most cases 52%. Now there's less to spend until income increases. And real-adjusted, income hasn't increased for 95% of the workforce since 1980. Isn't that the VERY root of the problem?
    26 Mar 2013, 09:25 AM Reply Like
  • racchole
    , contributor
    Comments (462) | Send Message
     
    Rising home prices is not the cause of our ills. People taking on loans they cannot afford is the cause of our ills. Very different statements in principle and in meaning.
    26 Mar 2013, 02:04 PM Reply Like
  • kwm3
    , contributor
    Comments (2454) | Send Message
     
    Not at all different. Anything over 30% has historically been considered "unaffordable" and banks refused to exceed the level for about 70 years,,,, then they abruptly changed their minds to earn more money and hence bonuses.
    26 Mar 2013, 02:08 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9252) | Send Message
     
    Should we pull an EU and make home ownership a crime punishable by 40% haircut when you buy a home? In other words, if you want to buy a home, you have to pay a 40% tax to the Govt.
    26 Mar 2013, 06:39 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3341) | Send Message
     
    Okay, so how much longer could the professor hold ZIRP?

     

    Not a matter of if but when. Expect to see 'gradual' uptick towards the end of 2013 if home prices continue its current climbing trend. There is no other way!!
    26 Mar 2013, 09:47 AM Reply Like
  • Macro Investor
    , contributor
    Comments (9252) | Send Message
     
    Till 2016. There is no way unemployment falls to 6.5% before 2015 and then you do not raise rates in an election year.
    26 Mar 2013, 06:37 PM Reply Like
  • GotLife
    , contributor
    Comments (1376) | Send Message
     
    Is this "uptick" in real terms? I never know if these stats are being compared in real or nominal terms. With the decline of the dollar this might actually be a decline from 2003.
    26 Mar 2013, 10:38 AM Reply Like
  • TreyT
    , contributor
    Comments (318) | Send Message
     
    Goo question Gotlife. These types of reports are normally nominal dollars. So yea, price point is similar to 10 years ago but adjust for inflation and it's probably closer to 11 or 12 years ago.
    27 Mar 2013, 01:37 AM Reply Like
  • Loucleve
    , contributor
    Comments (35) | Send Message
     
    of course home prices are up. the banks are holding 2 million plus houses off of the market.

     

    have to help the banks - nothing else matters. TINA.
    26 Mar 2013, 12:36 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (10205) | Send Message
     
    Here is one way to profit from a housing recovery: http://seekingalpha.co...
    26 Mar 2013, 02:22 PM Reply Like
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