Weak February for Case-Shiller Index
We’re a day late and a dollar short on this one but…the Case-Shiller numbers for February were released yesterday and, while the 20-city index was up 0.6 percent versus a year ago, prices fell from January in 19 out of 20 cities. New York, which ticked down 0.4 percent in the month hit its lowest…
We’re a day late and a dollar short on this one but…the Case-Shiller numbers for February were released yesterday and, while the 20-city index was up 0.6 percent versus a year ago, prices fell from January in 19 out of 20 cities. New York, which ticked down 0.4 percent in the month hit its lowest point in this cycle. These data point to a risk that home prices could decline further before experiencing any sustained gains, said David Blitzer, chairman of the Index Committee at S&P.
bryanx:
I agree that nobody knows the future. I CAN say for certain that January was not the bottom because Feb came in lower.
Only a fool claims to know the future.
We might not have seen the bottom of this cycle, OR we already have seen it and a bubble re-inflation is in effect. It’s all maybes on every side.
Unemployment, consumer confidence, the price of gas, the price of food… they all have their place in any tipping point that may or may not occur, upwards or downwards, in a future we can only roughly guess at.
DitmasSnark:
Send a memo to Robert Case – he’s behind you in his information.
> 1Q was clearly the bottom in Brownstone Brooklyn, DCB.
Picture a tennis ball bouncing down the stairs.
So you think the Case Schiller data that is the subject of this discussion, doesn’t count? Admit it DIBS, you were wrong! How about a little intellectual honesty>?
Hey DaveinBedstuy, if you’re so sure Q1 was the bottom then will you promise never to post on here again if it isn’t? Or are you just a pansy?
I hope I’m wrong but can’t see a reason property values should increase anytime soon. My guess is more losses until we settle at #s like the late 90s… Does anyone remember the crazy housing price increases in 1994-5 and beyond? When Manhattan coops were jumping $25,000-$50,000 in weeks? I wonder if we don’t have to go back to 1993 before we’re done shaking out the inflation from the NYC housing market.
1Q was clearly the bottom in Brownstone Brooklyn, DCB. Loook at the PDE report.
Please provide us with any rebutting data if you can.
The Bulls on this site are now PROVED wrong. January WAS NOT the bottom. Now they can start saying Feb was the bottom. Admit it — you were wrong!