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October 29, 2008
This is a heathy housing market, NOT!
This from Standard & Poor's Case-Shiller Home Price Indices, the leading measure of U.S. home prices.
Once again, the indices have set new records, with annual declines of 17.7% and 16.6%, respectively. However, the acceleration in decline was only moderate in August. The July data reported annual declines of 17.5% and 16.3%, respectively.
Taken from MISH'S
Global Economic
Trend Analysis
Comments
Yes. The slight uptick in home purchases we are seeing is not the rebounding of the market, but rather people who are well-off who are buying well-priced properties. The majority of people are not in a position to buy. In addition, interest rates are going to increase, making even low-priced homes harder to afford, and more people are going to lose their jobs.
Posted by: mopar at October 29, 2008 10:50 AM
mopar, you've answered my poorly worded question on this subject from the other day, thank you.
Good morning What, Nothing to add - just hello to you over there!
Posted by: cobblehiller at October 30, 2008 10:51 AM
"Good morning What, Nothing to add - just hello to you over there!"
What's up? Just a big nothing.. Wake me up when the MAB Dies.
The What
Someday this war is gonna end..
Posted by: what at October 30, 2008 11:45 AM
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