Posted on 06/30/2009 7:18:06 AM PDT by TexasNative2000
NEW YORK – There is a clear trend home prices declines are moderating — another sign the beleaguered housing market is stabilizing, according to data released Tuesday.
While the Standard & Poor's/Case-Shiller index of 20 major cities tumbled by 18.1 percent, it marked the third straight month the decline was not a record. And yearly losses in 13 metros improved compared to March.
(Excerpt) Read more at news.yahoo.com ...
Nothing but Probama shilling.
Weeee-doggie! The economy is on fire, it's going gangbusters! Look out 401k, I'm cashing you in and getting a villa in the Caribbean! This Obama dude has it going on!
An 18.1% drop in values........what an improvement!!!!!
while no one is dying because home prices are falling, the spin these idiot reporters are putting on it, as if it’s a good thing they aren’t going down more, is just bizarre. Replace home price drops with people dying of, say, the flu. Would these idiot reporters write the same thing, that “while people are still dying, the % isn’t as bad as predicted. Instead of the predicted 25% succumbing to the flu, only 18% and that relieves CDC officials.”
“index of 20 major cities tumbled by 18.1 percent, it marked the third straight month the decline was not a record”.
LOL. That’s a stretch even Mr Fantastic of The Fantastic 4 couldn’t make.
Sounds like the same mindset that proclaims Obama has “prevented” jobs from being lost, therefore is due credit for “creating” those jobs.
Grasping ... at ... straws ...
If as Glenn Beck said yesterday the Cap and Trade bill includes a provision that houses be “inspected” by the government to ensure they are “energy efficient” before sale, the market will die. It will be the owners responsibility to make the windows, doors, HVC, water heater etc meet government standards, very few will be able to sell. This disaster is far from over with The One in the WH working against recovery of the housing market or economy.
The Obama shilling accusations need to chill a little bit. Any idiot can read that there was am 18% drop, and decide that still doesn’t mean the economy is surging back. But if you are a homeowner waiting to catch the bottom of the market, the news that the rate of decline has reversed is certainly important. Case-Shiller is data-smoothed index, meaning that it doesn’t bounce around. It’s been greater than -2% for 16 of the last 18 months. The fact that it reached the smallest decline in 23 months MAY signal the bottom of the trend.
It may not. The price-moderating factors may disappear, as new waves of mortgages default, and the first-time home-buyer credit may end. But as someone trying to make a decision whether to hop in the market, I want to know that the Case-Shiller shows price INCREASES in the DC metro area, and the news that some metro areas are showing increases pointed me to that.
If your comments indicate that’s the kind of decision you’d make as a publisher, whatever newspaper you would publish might be valuable for political analysis but useless for investing.
But did mark a new record for AP pig lipstick.
My comments indicate my opinion as a political observer. Were the very same data drawn during a Bush presidency, there would be no indication of anything positive or improving.
Granted, a leveling out of the index would indicate a potential market-bottom, but an 18.1% drop doesn't qualify as a leveling out - unless the goal of the story is to insulate President Obama from the blame for any bad news.
New Headline news: The Democratic metorite of disaster has slowed down some and seems to be smaller then expected. Hopes are less people in the major democratic controlled cites will die when it hits bottom.
Or “Would these idiot reporters write the same thing” ... If the President was a conservative Republican?
Shouldn't that read "if you are a potential home-buyer waiting to catch the bottom of the market..." ?
Regards,
That's because there's a federal government bubble now forming. The bubble is unsustainable over the long term and when it pops, as all bubbles do, it's going to be ugly. Don't confuse the bottom of the year over year losses to the bottom of the market. It may be 8 years before buying a large amount of real estate makes investment sense.
yes
>> It may be 8 years before buying a large amount of real estate makes investment sense. <<
It may be. Frankly, my assessment is that buying a home in the DC area is just too expensive, period. But there’s a difference between investing and purchasing for use. If it costs me $2000 a month to buy, vs. $1900 a month to rent, I’m better off buying, because at the end of 29 years, I’ll still be paying $2000 a month, vs. what? $10,000 a month to rent? and at the end of 30 years, I’ll be paying $0 to own, and $10,000 a month to rent,... and I’ll have a property which might not be worth as much as I’d like, but will be worth more than $0.
... btw, government-induced bubbles pop. The bubble that IS the government will never pop, unfortunately.
How is that Hopey Changey thingy working out for you folks?
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