Radardoc

Seasonal Bump in Case-Shiller Home Price Index Abates

You lost me on the last line.

That same 10% of the states controlls a large enough chunk of the economy, the other 90% will get sucked under when the Titanic goes down...

I don't see good news there for anyone.


On Nov 25 11:14 AM Smalltownbanker wrote:

>That is what I would call good news for the rest of us.

Case-Shiller Home Price Index Rises Again

I was curious to see what exactly the C/S index looked at, so I went to the S&P website. There is a pdf available that "explains" the methodology. If you remember any of your statistics courses in school, it's cryptic but not too difficult.

One thing I found interesting is the data is stratified in low end, mid tier, and high end in terms of pricing. I have never seen the data presented with this stratification however.

Anyone know where it's available?

October 2009 Existing Home Sales: Government-Sponsored Surge in Home Sales Continues

Sold,
You stated that:

"It’s important when reflecting on the sales results to consider that 70% of all sales were for properties priced below $250,000 while only 7.7% were priced at or above $500,000."

Do you have any data on what the "normal" (pre-bust) distribution of these sales were? It would seem natural to me that those higher priced homes would be a smaller portion of the market, even in good times. It would be nice to see what the ratio was before for comparison.

Thanks

Which City Will Turn Positive First?

I have no doubt we will see increases in median price, but not for the reasons the cheerleaders are pointing to. It's just larger homes selling at just as much of a loss. As the disaster works its way up the ladder to bigger homes, the average price will go up, but the unit price is still falling.

What Happens When the Government Stops Propping Up Housing?

Absolutely, but that is the market deciding what the price for a house is, not the $$^&$## government deciding what is "fair," whatever the hell that means...


On Nov 23 12:06 PM OptimizedPrime wrote:

> Remember, the $8k cash-for-condos deal is NOTHING compared to the
> $TRILLIONS the govt. is spending to keep writing liar loans and NINJA
> loans.
>
> If the loan market was not propped up by the government, anybody
> want to guess what mortgages would be at? 10%? 20%? Unobtainable?
>
>
> Remember that interest rates going from the impossible 5% they are
> now to a more free-market 10% will effectively increase the price
> of a home for the average buyer by about 50%. Put that in your models
> and smoke it.
>
>
> OP

FDIC Keeping Mum About Real Estate Auction Results

Cramer also called the housing bottom this past summer. Having said that, even my old broken Timex is right twice a day...


On Nov 23 12:55 AM Gary A wrote:

> Cramer said 7. I don't like the guy but he may be right.

Delinquent Mortgages Equal to Three Times the Balanced For-Sale Inventory

"Only a berserk fool is buying real estate today. Only a criminal is recommending to someone else that they buy a home."

Thanks for the quote Michael. I think I've found my new e-mail signature line. Clear, succinct, and most of all, right on target.

The Real Reason the FHA Doesn't Need a Bailout

Your metaphor has inspired an idea for a screen-play. Starring our chief executive in the role of Nero...


On Nov 19 10:07 AM TraderMark wrote:

> Rome reference to Roman Empire
> not current day ;)

Housing Starts: One Step Forward, Two Steps Back

"Housing starts fell unexpectedly last month."

Unexpected only if you have been wearing your sphinchter around your neck.

Real Estate Recovery in Southern California: Home Sales Increase for 16th Straight Month

You should click the "report abuse" link below just for what I'm thinking about this load of sunshine.

Still the Worst Deflation in U.S. History

WOW!

Now I see the light! Just drink the socialist Kool-Aid and all will be well...

As long as you spew the Dem = Good, Rep = Evil (or the oposite), you demonstrate your inability to think independently. This economy (or lack thereof) has been building under administrations of both colors (blue/red) for years. The current shameless move toward socialism could not have come at a worse time though. Let's spend our way to prosperity. Good luck with that.


On Nov 19 09:13 AM Robert0713 wrote:

> This Depression, as every predecessor Depression or Panic since the
> Civil War, has been preceded and engineered by a vast shift in income
> from the many to the few. Pre-Reagan the top 1% took 8%, now they
> took 23%. The problem with the Recovery is that the best it can do
> is return to status quo ante, but that is what caused the problem
> in the first place. Reagan and his Right Wingnut followers decided
> that the middle class was evil, and set out to destroy it. They have.
> This is what you get. I hope you're happy. A capitalist system can't
> continue without a broad based middle class getting most of the income;
> otherwise, there is no one to buy the output. This is why BRIC exported
> here; they couldn't support output domestically.
>
> An emasculated middle class won't fix the problem, i.e. turning America
> into India. BRIC export to us, rather than grow domestically, just
> because they adhere to a Social Darwinist policy, and the US (and
> Europe, to a lesser extent) was/is the only country which had/has
> a middle class of sufficient breadth to absorb output. The Chinese
> have recognized this, and are aggressively redistributing income
> to create a middle class; they start from just a sliver of their
> society, so in percentage terms it has grown a lot.
>
> As Florida and Nevada have found (and so to, to a lesser extent the
> whole country), basing growth on naked growth in the form of construction
> of housing, is fatal. Economists for decades have warned that putting
> monetary capital into housing as physical capital was a waste. Now
> we have glaring proof.
>
> Reagan took his mandate to shift income from the many to the few,
> on ostensibly moral grounds (unions are evil, and capitalist titans
> are good). Gingrich, the Bushes followed. The end of Glass-Steagall
> was engineered by three acolytes, Gramm, Leach, Bliley.
>
> Unless and until Obama (or a successor) takes the mandate to reverse
> this shift, this Depression will continue. There is no one to buy
> the output. Write that on the chalk board until it is burned into
> your brain.

Long-Awaited Housing Recovery Is Finally Underway

I'll have some of whatever you're drinking.

First-Time Homebuyers Proliferate: What Are the Consequences?

On Nov 02 09:56 AM Smalltownbanker wrote:

"When the first time buyer purchases it allows the seller to move up."

Unless that sale was a forclosure (and we know how rare those are these days). Then that move up will happen in about 5-7 years as a first time home buyer!

Housing: The Myth of 'Less Bad'

Thanks for the historical perspective.

In all of the recoveries I know of, recovery was fueled by an industry or combination of industries. Whether it was steel, autos, technology, housing, there was some industry driving it. What is the idustry driving this recovery, Finance? I think not. If your going to throw money somewhere, throw it at jobs, not proping up a symptom of the illness.

Maybe the demand for money printing presses will drive the recovery.

Housing Prices Are Rebounding

"No one seems quite prepared yet to proclaim that we've seen the bottom in housing,"

Obviously you haven't been watching the Cramer clown show on MSNBC...