Latest S&P Numbers: Surprise! They Ain't Good
The Journal reports that the most recent S&P/Case-Shiller indexes, which covered home-price trends in 20 major metropolitan areas through April, show home prices dropping 15.3 percent in the past year—a record decline. The continued devaluation of residential real estate across the country set home prices back to where they were a whole three years ago,…
The Journal reports that the most recent S&P/Case-Shiller indexes, which covered home-price trends in 20 major metropolitan areas through April, show home prices dropping 15.3 percent in the past year—a record decline. The continued devaluation of residential real estate across the country set home prices back to where they were a whole three years ago, even though eight of metropolitan areas included in the index showed a bit of improvement over March of this year. There was no region studied, however, that did not post a year-over-year decline in prices. Vegas and Miami saw the biggest price drops between April ’07 and April ’08, while Charlotte and Dallas fared the best. The New York region was somewhere in the middle, with a year-over-year decline of 8.4 percent and a 1.3 percent dip between March ’08 and April ’08. “There might be some regional pockets of improvement,” said David M. Blitzer, chairman of Standard & Poor’s index committee, though “on an annual basis the overall numbers continue to decline.”
Home-Price Gains Are Erased, Now Stand at 2004-2005 Levels [WSJ]
Graphic from the Wall Street Journal.
“How could speculation in the futures market affect the price of oil?”
Not the sharpest knife in the drawer, are ya?
2:08 — that makes no sense. How could speculation in the futures market affect the price of oil? Futures traders don’t take possession of the oil, so how do they affect supply or demand?
“The more PROBABLE answer will be that they double again in 5 years.”
Because your crystal ball is more accurate?
You go Ms. Kreskin!
1:27 – Way to paint with a broad brush. I’ve known some pretty miserable people who grew up here in the city and I know some suburban kids (in the Midwest, not in the Northeast) that love their hometown. Those same kids come here to visit and they are completely astounded at the lack of space, the crowds, the noise, and the filth. “How do you live here?” they ask.
It cuts both ways. Every cross-section of the population has both happy people and miserable malcontents.
I posit the unhappy people you know would be unhappy, no matter where they grew up, and that it’s in their DNA. But I’m in the “nature over nuture” camp.
Generalizations rarely help legitimize an argument, if ever at all.
Notice, the sentence…oil prices COULD fall to half.
The more PROBABLE answer will be that they double again in 5 years.
We should Europe and the rest of the free world be paying 8-9 bucks a gallon while the U.S. pays 2 dollars?
Have any of you ever left Brooklyn before?
WASHINGTON (MarketWatch) — The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.
Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.
Fadel Gheit of Oppenheimer & Co., Edward Krapels of Energy Security Analysis and Roger Diwan of PFC Energy Consultants agreed with Masters’ assessment at a hearing on proposed legislation to limit speculation in futures markets.
Krapels said that it wouldn’t even take 30 days to drive prices lower, as fund managers quickly liquidated their positions in futures markets.
“Record oil prices are inflated by speculation and not justified by market fundamentals,” according to Gheit. “Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel.”
why do you have to drive to live in the suburbs? haven’t you people heard of the train? yikes.
this urbanization broker shill posts the same crap on every discussion about brooklyn pricing. he is trying really hard to believe his own bs.
1:27pm you are lost.
I grew up in the suburbs and would not change that for anything.I have been living in the city for 4 years and love it but how can you say its better to raise kids in the city than the burbs???
First of all its safer for the kids in the burbs they have more space to play (backyard with pool and friends and so on)…Basketball in front of the house and so on…I love the city but when I have a kid and he or she is old enough to play and be outside its time to be in the burbs…
You are a selfish loser that is way to into yourself…I love these people that live in park slope that have to bring their kids to every restaurant and so on its just embarassing…Oh and btw the schools suck in all of NYC except for a few or if you want to pay $35k for you kid to go to 1st grade…
I think you need to get out to the NJ and NY suburbs in 2008. Plenty of Asian non-white faces.