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.
I don’t think we are going to get “high inflation.” I think rates are going up and you can make money on that but they are not going to anything close to double digit.
There has to be a catalyst for another collapse. i don’t see it in the economic numbers. The market will go through fits and starts but no reason for a collapse.
If the nutjobs in N. Korea lob a nuclear warhead or the crazy man in Iran does the same, all bets are off. Respnses to either of those should be swift and harsh.
DAVE you don’t think that another round of delevering is coming… We are either going to get high inflation or another collapse…. My opinion…
joe….do you have any idea how many new hedge funds have opened up in NYC over the past three monts? A lot. Investment banks have begun rehiring people in select areas. Goldman is making huge profits.
No, it isn’t a real resurgence by any means but the signs are there that it has turned, and “it” will include NYC incomes.
dibs, the point is that you cobble together all of this fringe data to make elaborate, esoteric arguments about NYC housing (that is what we’re talking about, right?), when the necessary facts are right in our faces. As lechical says, we should care about income and wealth in NYC, and most everyone I know here expects to living pretty lean for a long time to come. “ISM factory index sinks at slower pace”? come on.
A lot of foreign banks are in great shape…SCBFF, CICHF and also telcos: SGAPY, TLK & PHI
Why japanese auto components suppliers? I will take a look….
Who started the shitstorms? MR WHAT… LOL
Hoboken…own a lot of small cap stuff…favorites are GVP, GLG CN, a number of small Japanese auto components suppliers, China railway stocks, MR, MNRO and bought TSM back around $9.16.
Welcome back. You’ve missed a few real shitstorms here.
Vehicle sales are not out yet, joe. They will likely exceed the estimates. Probably a SAAR above 10MM.
Skipo the color and focus on the number. Christ.
Dave,,, I haven’t traded since MAY 18th… What else are you looking at? I stopped when the vix kept going down while the market was going up…. I knew we would be in a tight trading range so I took a vacation.. Disney world was fun..