Case-Shiller: Beware the Head Fake
There was some reason to take comfort about yesterday’s data from the Case-Shiller Index—the rate of price declines slowed for the third straight month nationally. But before you break out the champagne and check books, get a dose of what the Wall Street Journal had to say yesterday: The bloodletting may not be over. Here’s…
There was some reason to take comfort about yesterday’s data from the Case-Shiller Index—the rate of price declines slowed for the third straight month nationally. But before you break out the champagne and check books, get a dose of what the Wall Street Journal had to say yesterday:
The bloodletting may not be over. Here’s why: If price declines accelerate for the mid-to-upper end of the housing market, then that could generate enough large declines in values—even among a small segment of the overall housing market—to push the index lower still.
Meanwhile, here in New York (where there’s plenty of “mid-to-upper” properties) housing prices ticked down another 1.6 percent in April for a total of 21 percent off the June 2008 high, as the chart above shows.
Whuh The What blows before you!
This is the best self-PWNING ever on Brownstoner.
Posted by: DitmasSnark at July 1, 2009 9:37 PM
ROTFLMMFAO
Yes, that an admission to living in Lodi, NJ
I don’t have a job but I will insult others who do.
Does being unemployed mean I work for a firm with 1 person?
I used to be a truck driver and actaully had the nerve to tell a lawyer that the best way to get a job in this market was to pound the pavement.
I love slinging insults. It is the best way to deflect others from my reality, which isn’t very pretty.
I will jump up and down when others use a slur, but I use slurs all day long.
Do you think I obsess about Dave because I am in love with him?
If I inherited my house from the mother who beat me with a 2 x 4, should I be thankful that she left me the house or angry that I had to take a beating to get it?
I won’t tell you anything about me or let you meet me because meeting the wizzard behind the curtain destroys the image of a street-wise tough guy I am trying to create.
Marry me, Dave. It will be just like it was when I was a maytag in prison.
> Whuh The What blows before you!
This is the best self-PWNING ever on Brownstoner.
I’m guessing I’m too late for this thread but here goes anyway: Has anyone mentioned yet how much nyc real estate (not to mention the nyc economy) relies on the banking sector? I would think that the banks won’t be pulling in nearly as much in the coming years because the government will be regulating them up the ying yang. It will probably be a while before everyone forgets about Depression 2 and lets the banks get back to doing what they do best – coming up with complex schemes to make gobs of money while contributing almost nothing to society.
“ave does not manage money; he doesn’t work for a hedge fund. He is an internet troll. I am willing to wager a case of Haut Brion. All DIBS needs to do to prove otherwise is show us some documentation of his employment and some legit evidence of his returns. Until then he is an irritant and a sock puppet.”
AAAAAAAAAAAAAAWWWWWWWWWWWWWWWWWWWWWWWWWWWW!!!!!!
This is the best PWNING ever on Brownstoner!!!!!!!!!!!!
Whuh The What blows before you! Job well done and guess what?!
Day Trader In Bed Stuy had no answer… Today Dave got his ass kicked!
The What
Someday this war is gonna end…
Whuh,
This is pointless but I can vouch absolutely for the facts that Dave is a real person and that he manages money for a hedge fund.
If you come to the next Brownstoner drinks, you will probably meet both of us and you can buy both of us a drink. Until then you will remain an irritant and a sock puppet.
Fwiw I disagree with several of his opinions on both the stock market and the housing market. But each of us will manage according to his own view and that’s fine.
It’s pretty obvious to anyone with a brain that a hedge fund manager specializing in equities, of any standing, would not be hung up on the future price action of ghetto real estate. Two questions: Why would someone claiming to be a HF guy be so hung up? (Answer: The bulk of his net worth is tied up in a ghetto RE.) And b.) No one with an even moderately consequential job in equities could possibly spend hours a day fighting with anonymous posters about the price direction of equities and ghetto RE.
If you examine his posts at all, you come across howling contradictions in Dave’s own logic: When the stock market collapsed, it was nothing more than a panic driven measure of mob emotion. Now that it’s rallied tentatively off its lows, it’s a perfectly rational leading indicator of recovery. Literally everything DIBS says is a verbatim repeat of something he’s heard on CNBC, from Larry Kudlow.
Dave does not manage money; he doesn’t work for a hedge fund. He is an internet troll. I am willing to wager a case of Haut Brion. All DIBS needs to do to prove otherwise is show us some documentation of his employment and some legit evidence of his returns. Until then he is an irritant and a sock puppet.
11217 – thanks here’s hoping
DIBS, the chart (http://www.ritholtz.com/blog/2009/06/monthly-sp500-inflation-adjusted/) is in inflation-adjusted terms. Your rather incoherent rendition of relatively recent market trends appears to refer to the nominal trend.
As to your belief that history has no relevance, I will just let that go without comment.