Case Shiller Index: Negative Numbers Across the Board
Home prices in the New York City area in February fell 1.6 percent from January and about 10 percent from a year before, according to new numbers from the Case-Shiller Index. Those drops were relatively benign compared to some parts of the country: Las Vegas and San Francisco all experienced year-over-year declines of over 30…
Home prices in the New York City area in February fell 1.6 percent from January and about 10 percent from a year before, according to new numbers from the Case-Shiller Index. Those drops were relatively benign compared to some parts of the country: Las Vegas and San Francisco all experienced year-over-year declines of over 30 percent while Phoenix achieved the distinction of being the first city to have its real estate values fall more than 50 percent from the 2006 peak. Some of the hardest hit regions have begun to show signs of stabilizing, as low prices, the proliferation of foreclosure sales and low interest rates have lured some buyers back to the table. Still, predictions for future declines across the country from so-called experts range from just 5 percent to as much as 33 percent. A chart from the Wall Street Journal of percentage changes in the nation’s 20 largest cities is on the jump.
Phoenix Leads the Way Down in Home Prices [NY Times]
City Lags As Nation Hits Home Runs [NY Post]
A Look at Case-Shiller Numbers [WSJ]
NYC Price graph from The New York Times
I agree…it should be “cheap at twice the price.”
well I did work for an American bank…
“cheap at half the price!”?
(which never really made sense to me – I always thought it should be “cheap at twice the price” to imply that it was a super-bargain)
“Back up the truck” was used by a lot of American brokers. “Fill your boots” was truly British. Besides, wouldn’t it be “Back up the lorrie?”
Still incredulous huh???? Overwhelming evidence of the collapse of the Mutant Asset Bubble and still the retards find fault with the data! Here retards lookie here!
Fed Is Said to Seek Capital for at Least Six Banks (Update1)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aiz06xRmmeOQ&refer=home
April 29 (Bloomberg) — At least six of the 19 largest U.S. banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said.
We have a insolvent Banking System…..
The What (6 months to impact!)
Someday this war is gonna end…
DIBS, how about “back up the truck!”?
Condos & coops are still going to have a very hard time. There’s a greater supply of them, the carrying costs are higher (fees) and they are still priced at price psf higher than most brownstones.
So does this mean the mutant asset bubble is popping?
Almost everything on this site is, by opinion of most of the commentators, down 20-30% from what it would have been listed/sold in late 2007/ealy 2008. So how can there continue to be such denial?
Personally, I think prime brownstones are not going to fall much more but those Archie Bunker houses that sold for over a million are history as are the $500K one bedroom condos — at least for now.
“Fill your boots” I haven’t heard that phrase since the Hong Kong bull market of 1992. Spoken like a true Brit bag broker!!!!!