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.
“Everyone in the suburbs smokes crystal meth”
And Brooklyn real estate brokers smoke crack.
I call it even.
Two years ago I hired a consultant to retrofit our brownstone to be as eco-friendly as it can be. Solar panels on the roof, low flow faucets, the whole bit.
Got anything else for me?
2:59 = 2:56 = 2:42 = broker shill scared sh!tless
2.42 – near 25% of emissions are caused by energy production for non-LEED housing. Like your brownstone. Congratulations.
2:56 –
That’s why they should quadruple (octuple?) the price of the Lincoln Tunnel during rush hour.
2:54 – The entire city of New York nearly went bankrupt once, as you may or may not recall.
2:55, as someone who is now raising their kids in the suburbs, what you say is 100% true. My kids sit around the house more than I’d like and I fear they are not very happy.
My husband and I talk almost nightly about the bad move we made moving from Park Slope out here to Teaneck in 1998. We hate it, but now can’t afford to come back. Had we stayed, not only would the kids be happier, but we’d probably have more friends and social activities (not to mention would have made a killing on a house, had we bought one). We left right before the gettin’ was good. Sigh.
Everyone in the suburbs smokes crystal meth
Goldman Sachs stands to make a TON of money if their analysts are right.
The same way they made a killing dumping Mortgage Backed Securities.
Don’t be duped.
Again.
Bubble, bubble, (t)oil and trouble…