Case Shiller's Silver Lining?
Over on the Wall Street blog Clusterstock today, they’ve managed to find some good news within the latest batch of data from the Case Shiller Index. Although the index year-over-year decline in August rose to 17.7% (versus 17.4%), the rate of acceleration has been slowing, prompting the finance blog to muse that “It seems reasonable…
Over on the Wall Street blog Clusterstock today, they’ve managed to find some good news within the latest batch of data from the Case Shiller Index. Although the index year-over-year decline in August rose to 17.7% (versus 17.4%), the rate of acceleration has been slowing, prompting the finance blog to muse that “It seems reasonable to think that August or September might mark the peak in the rate of year-over-year price decline.”
first of all i think both candidates are horrid. i wish that i could vote for richard pryor.
still waiting for an informed and educated rebuttal.
Boreum H – if you’re self employed, you can double your 4% social security figure.
Miss Muffett, just because one see’s issues with Obama’s tax policy doesn’t mean that one is pro-McCain. That sounds like Bush’s “if your’e not with us your un-American” type logic.
Its always wise to look at the actual details of a candidates’ promises over the media-friendly summarizing soundbites. Its clear that those over $250K (salaried) will take a hit, and if NYC raises income taxes too, it will be a significant hit.
“by taking money from the people who would support higher price levels and giving it to those who cannot.”
Hey! Everybody that is rich – go out and buy a house whether you need it or not! I don’t think I’m going out on a limb to guess that most of the people that might be financially capable of supporting higher price levels already own a home.
Beyond that, why is supporting prices a good thing? If the property is your home then you should care not one jot about whether the value has gone up or down in value.
Your comment is financial snobbery at its very worst. New York and Brooklyn are the places they are precisely because of the diversity (financially, socially, ethnically) of its inhabitants. Do you want NY to become one giant Battery Park City?
The Obama plan will raise marginal rates on incomes over $250 by about 4 percentage points to Clitnton year levels. The Obama plan also calls for a surplus social security tax (at an unspecified rate but rumored to be 4%) on incomes over $250K. So, $25OK earners will pay more tax than they did in the 1990s. This will result in a net increase in taxes paid by New York City residents. There are a lot of good reasons to vote for Obama, but it’s not a “distortion” to say that tax bills for those who actually pay taxes will go up.
BrooklynLove – Under Obama’s tax plan, families earning over $250K would not pay more than they did in the 90s (in fact, they could pay less), a period when real estate values were steadily rising. So your argument does not really make sense – just another over-simplification which sadly shows that McCain’s distortions are working on some people.
Yes, its always clear cut, black & white like that BrooklynLove. The amount of money that people making $500,000 plus will give up in higher taxes will be largely immaterial. Certainly not enough to effect real estate purchase decisions. Life will still be good!!!
And, Obama should be able to placate those committing the street crime with lower taxes. Its a win-win!!!
by taking money from the people who would support higher price levels and giving it to those who cannot.
BrooklynLOve – can you please explain, in concrete terms, why Obama would hurt NYC real estate prices more than McCain would?
the biggest risk to nyc real estate prices is obama as president. yeah i said it. if you don’t like it, refute that statement logically instead of moaning.