Case-Shiller: More Stable But Not Good
S&P/Case-Shiller released its November report on housing prices across the nation’s 20 biggest cities and the news wasn’t particularly good. There were some signs of stabilizing (and four cities have even seen price rises over the last year), but, as David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, put it, “there…
S&P/Case-Shiller released its November report on housing prices across the nation’s 20 biggest cities and the news wasn’t particularly good. There were some signs of stabilizing (and four cities have even seen price rises over the last year), but, as David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, put it, “there is no clear sign of a sustained, broad-based recovery.” New York appeared to have continued downward momentum, with prices off 1% from October and more than 7% from a year earlier; the 20-city index as a whole was down 5.3% over the year. U.S. News & World Report estimates that overall prices have another 5 to 10% left to fall. “We see a big backlog of distressed properties that could come on the market in the next several quarters,” Celia Chen of Moody’s Economy.com told the publication. The Case-Shiller report comes on the heels of a larger-than-expected drop in existing home sales.
A Look at Case-Shiller, by Metro Area [WSJ]
Home Prices Stabilize Further [U.S. News]
Tough Times for Housing Market Followers [Seeking Alpha]
That chart is even uglier than DIBS’s comments about his romantic life.
Posted by: DeadCatBounce at January 27, 2010 11:59 AM
Bitter, DCB???? Keep your remarks about your lack of a sex life to the OT, not in the these other threads. Your lack of class is beginning to show.
Let me give you a word of advice about your investing activity and your interest in buying a house. If you have your money in the stock market and you’re also planning on using that same money to buy a house you are making one of the biggest mistakes of all time.
Glad you all enjoyed – now play nice!
DIBS is fantasizing about me jerking off again. Blech!
Nice one chicken. I don’t think that is what’s going to happen, and as Ive said before, no one can read to the right, but that sure is what a return to long term trend looks like.
That chart is even uglier than DIBS’s comments about his romantic life.
LOL, chicken…that’s giving BHO & DCB a woody. I can see them printing that and jacking off to it!!!!!
Thanks for the long term chart DIBS. I don’t really think anyone can read to the right of the chart, but if I had to I would say that is one of the scariest charts I have ever seen.
It shows a parabolic rise, followed by an equally sharp 30 percent decline. Then a tiny blip up followed by an equally tiny blip down that almost takes the market to its most recent low. If the low holds, then perhaps we are putting in a bottom. That is why I said earlier that we are at an inflection point. Sure doesn’t look good on the chart, and I have been looking at charts since I had to plot the data by hand.
Fixed the chart for you DIBS. No need to thank me.
http://imgur.com/edIoN
They’ve bottomed, BHO. Just because this doesn’t fit your “world view” doesn’t mean it hasn’t happened.
Get off the fence.
“I have predicted, going on some 5-6 months that prices for brooklyn brownstones would bottom around year-end 2009 and it looks like they are.”
WRONG! You originally said they would bottom BY year-end, not AROUND (if I had time to sift through your server-crashing stockpile of comments). It’s time for a 3rd revision in your prediction.
***Bid half off peak comps***