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.”
To be quite honest, I can’t wait until prices fall back to normal again and my house is worth a pittance of what its worth now. Why? Because I have no plans on ever leaving the city until I’m carried out in a box, I could care less if I leave my kids a legacy in an old overpriced Williamsburg house – and they do not want to live here anyway, and primarily because my freaking insurance and property taxes will quit going up every year. I am not an investor looking to flip my home, so who really cares if it increases on paper. Bring on 2001 prices!
“You looked feverishly for 7 years of a seller’s market and drop out when it’s shifted to a buyer’s market?”
Great point.
Now is the time to look and gather the right information on buying a home. Not some investment in some “hot” area that you hope to flip, but a home. A place to live. At a price that middle class people can afford.
I think the bottom is still far off and far way down, but you have to plan for the future. Right now, I’m getting the right information and a good financial basis so that when homes are affordable and prices are realistic, my family and I will be ready.
“You looked feverishly for 7 years of a seller’s market and drop out when it’s shifted to a buyer’s market?”
Great point.
Now is the time to look and gather the right information on buying a home. Not some investment in some “hot” area that you hope to flip, but a home. A place to live. At a price that middle class people can afford.
The bottom is still far off and far way down, but you have to plan for the future. Right now, I’m getting the right information and a good financial basis so that when homes are affordable and prices are realistic, my family and I will be ready.
That is my point, Boerum Hill. I was very actively & obsessively looking to buy. But the mentality has changed. I don’t know what is going to happen to this city in the new world order. My defection is part of the reason that prices are going down (only a part). I don’t even want to buy because that whole panic mentality is over…the idea that you have to get into this market before it leaves you behind. Over. Done. A brownstone in Brooklyn is just not what I want right now. I want flexibility. And gold coins.
That is my point, Boerum Hill. I was very actively & obsessively looking to buy. But the mentality has changed. I don’t know what is going to happen to this city in the new world order. My defection is part of the reason that prices are going down (only a part). I don’t even want to buy because that whole panic mentality is over…the idea that you have to get into this market before it leaves you behind. Over. Done. A brownstone in Brooklyn is just not what I want right now. I want flexibility. And gold coins.
That is my point, Boerum Hill. I was very actively & obsessively looking to buy. But the mentality has changed. I don’t know what is going to happen to this city in the new world order. My defection is part of the reason that prices are going down (only a part). I don’t even want to buy because that whole panic mentality is over…the idea that you have to get into this market before it leaves you behind. Over. Done. A brownstone in Brooklyn is just not what I want right now. I want flexibility. And gold coins.
crime is going to go up because cost of housing is getting cheaper and bonuses on Wall st are down to nothing and hedge fund guys will be unemployed?
I think crime will be down because the wallst/hedge fund guys won’t be able to stealing our money any longer because they will be out of work.
sorry again – not theta, I meant gamma. I’m always forgetting my greeks.
sorry – just re-read. It’s not even the delta that’s going down but the theta!
So to continue my analogy, the mugger tomorrow is going to take more than he did yesterday but at least the extra that he’s going to take is less than the extra he took from you yesterday over the day before!