Posted on 05/31/2022 7:22:03 AM PDT by Browns Ultra Fan
Yes, its the housing market’s version of “March Madness!”
The Case-Shiller National Home Price Index for March was released this morning and it was a doozy. The Case-Shiller National home price index YoY accelerated to a whopping +20.55%.
And at +20.55%, it is the fastest price growth in history! Even the peak of the infamous 2000s housing bubble was only +14.51% in September 2005.
Why do we have historic highs in home price growth? The Federal Reserve’s monstrous Covid stimulus (green line) is still in place.
Washington DC is the slowest growing metro area in the US while Tampa FL, Phoenix AZ, Miami FL and Dallas TX are all above 30% YoY.
Let’s see what happens when The Fed FINALLY removes its Covid stimulus as mortgage rates rise.
Remember, Janet Yellen (who left monetary stimulus in place for too long under Obama) is now US Treasury Secretary.
(Excerpt) Read more at confoundedinterest.net ...
What goes up must come down.
I’m glad I paid off my house 6 years ago, and have no intention of moving.
“What goes up must come down.”
My decades of observation show that to not be true.
September, 2001 stock market - 9/11
September, 2008 stock market - W
Not sure of significant events in 2015 though
What will September / October, 2022 bring?
Still, ya gotta as love the shirt
Looks like the curtains are some of my favorite Mexican restaurants
🌮🌮🌮🌯🌯🌯🥑🥑🥑
“September, 2001 stock market - 9/11”
10,000, now 33,000
True.
Dropped to 9200 - 9300 IIRC.
2008 really impacted the job market in my area.
If you are looking for a reasonably priced home you will not find one. People don’t want to move. They are scared they will never be able to afford another home.
In our area nothing is built for less than $1.5 million, and I live in a crime-infested mud puddle.
According to Zillow (LOL), our home’s value increased $20,000 last 30 days. That, and a cup of spit, will buy me a case of tomaine poisoning.
These are March numbers, the air is coming out of the bubble now. One can go on any of the real estate sites - trulia, realtor, zillow, etc. and check for recent price reductions.
Still going up in the Albuquerque metro area.
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