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“BHO…Case-Schiller 20 city turned positive YOY…You’re plans for a house seem to be toast now!!!!”
But all aint what it seems. Yes, MOM (except NSA) and YOY declines in NYXR are slowing down but even Case-Shiller’s press release warns not to blow your load over it.
“‘While year-over-year data continued to improve for 18 of the 20 MSAs and the two Composites, this simply confirms that the pace of decline is less severe than a year ago. It is too early to say that the housing market is recovering’ says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s.”
Each report showed gains in YOY since November until now.
New lows in six cities since the peak including NY Metro (multi-dippity).
14 of 20 MSAs have fallen for at least four consecutive months, NY Metro six months (we rank 7 in YOY decline).
The homebuyer tax credit (ends this month) is attributed to the dead cat bounce (although I also cite Obama-sanctioned book cooking by the banks that allows them to survive and even profit with zero interest rates – cannot last forever!) and may continue to fool people as the data lags two months and is constantly revised retroactively, down in many cases, as additional info comes in.
But damn, that shadow inventory. The press release cannot ignore it when speculating on the direction of their indices.
“Amidst all the news [they’re referring to short-sighted, intermediate, snapshot data that DIBS goes crazy over], however, we should also pay heed to foreclosure activity, which have reached their highest level in at least the last five years.”
HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…
“As of February 2010, average home prices across the United States are at similar levels to where they were in late summer/early autumn of 2003.”
You know what, DIBS? Brownstone prices here doubled since 2003 but the decline lags the rest of the nation (per consensus, not just me). You know what that means when they go back there? Half off! My plans are TO PROPOSE A toast TO YOU when Stuy High comps fall in half from peak.
Cheers in advance…(And try to get some sleep at night – Lemme out of your head!)
What, Slopey is not the only one. You talk a lot of garbage quiet a bit since you’ve been back. No point of showing examples as you ignore them pretty well. Quite shameful since you claim to be old school Brooklyn.
“I think he’s kept the tone where it needs to be to avoid banning, and I appreciate the effort. We had a pretty civil exchange the other day, even in disagreement. I wouldn’t want him banned just because I don’t like his “contribution.” But, really, you missed this?”
No Slopefarm it’s about The What keeping his word!
I promised Brownstoner to be hard but civil, keeping your word is what matters most!
i noticed plenty of Asshats are not loyal, they stab you in the back and ‘snitch’ when it’s suits them.
I know you’re upset because I’m back in fact, you’re the only one with the problem!
So just stew Slopey, maybe your boy Dave-O can give you a Reach Around..
“BHO…Case-Schiller 20 city turned positive YOY…You’re plans for a house seem to be toast now!!!!”
But all aint what it seems. Yes, MOM (except NSA) and YOY declines in NYXR are slowing down but even Case-Shiller’s press release warns not to blow your load over it.
“‘While year-over-year data continued to improve for 18 of the 20 MSAs and the two Composites, this simply confirms that the pace of decline is less severe than a year ago. It is too early to say that the housing market is recovering’ says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s.”
Each report showed gains in YOY since November until now.
New lows in six cities since the peak including NY Metro (multi-dippity).
14 of 20 MSAs have fallen for at least four consecutive months, NY Metro six months (we rank 7 in YOY decline).
The homebuyer tax credit (ends this month) is attributed to the dead cat bounce (although I also cite Obama-sanctioned book cooking by the banks that allows them to survive and even profit with zero interest rates – cannot last forever!) and may continue to fool people as the data lags two months and is constantly revised retroactively, down in many cases, as additional info comes in.
But damn, that shadow inventory. The press release cannot ignore it when speculating on the direction of their indices.
“Amidst all the news [they’re referring to short-sighted, intermediate, snapshot data that DIBS goes crazy over], however, we should also pay heed to foreclosure activity, which have reached their highest level in at least the last five years.”
HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…HIGHEST LEVEL IN AT LEAST THE LAST FIVE YEARS…
“As of February 2010, average home prices across the United States are at similar levels to where they were in late summer/early autumn of 2003.”
You know what, DIBS? Brownstone prices here doubled since 2003 but the decline lags the rest of the nation (per consensus, not just me). You know what that means when they go back there? Half off! My plans are TO PROPOSE A toast TO YOU when Stuy High comps fall in half from peak.
Cheers in advance…(And try to get some sleep at night – Lemme out of your head!)
***Bid half off peak comps***
What, Slopey is not the only one. You talk a lot of garbage quiet a bit since you’ve been back. No point of showing examples as you ignore them pretty well. Quite shameful since you claim to be old school Brooklyn.
wait… wait… OMFG…. a Senator is making sense!!!!! Stop the fucking presses!!!!
other ways to divide up neighborhood is by zip code, 11231,11201, 11217 (where is he anyway?)
or by P.S. zone.
“Hey What, wassup?
What’s your call on the Dow in thirty days?”
I can’t call it! The sings still have the Dow going up but The Europe Melt-Down is very scary!’
You see Denton the hedge funds benefit from a step yield curve but if everyone starts buying the 10s and 30s it’s gonna be GAME OVER!
I have to wait and be careful trying to short until Satan gives the green light!
The What
Someday this war is gonna end..
Rob;
Heartworms are a real issue. You should have your dog treated per the vet’s recommendation.
“I think he’s kept the tone where it needs to be to avoid banning, and I appreciate the effort. We had a pretty civil exchange the other day, even in disagreement. I wouldn’t want him banned just because I don’t like his “contribution.” But, really, you missed this?”
No Slopefarm it’s about The What keeping his word!
I promised Brownstoner to be hard but civil, keeping your word is what matters most!
i noticed plenty of Asshats are not loyal, they stab you in the back and ‘snitch’ when it’s suits them.
I know you’re upset because I’m back in fact, you’re the only one with the problem!
So just stew Slopey, maybe your boy Dave-O can give you a Reach Around..
The What
Someday this war is gonna end..
Hey What, wassup?
What’s your call on the Dow in thirty days?
Hey Legion;
I’m back!
I’ve got to go, but I’ll be back tomorrow. I’ve got another log to put on the fire too. In my case, it concerns religion. Stay tuned!