NYC Housing Prices Continue to Fall
Just-released March data from Case-Shiller shows New York City housing prices continuing to fall both on a monthly and yearly basis. New York was down 0.7 percent versus February and 2.4 percent versus March 2009 while some of the cities to be hit hardest early on, like San Diego and San Francisco, continued to experience…
Just-released March data from Case-Shiller shows New York City housing prices continuing to fall both on a monthly and yearly basis. New York was down 0.7 percent versus February and 2.4 percent versus March 2009 while some of the cities to be hit hardest early on, like San Diego and San Francisco, continued to experience strong recoveries. Price improvement in the housing market is clearly slowing and there is a very, very real risk that over the next few months, the year-over-year change in prices turn negative, Dan Greenhaus of Miller Tabak & Co. told The Wall Street Journal. That is not to say housing drags us down into a full-on double dip recession, something we’ve never believed, but its tough for us to envision a scenario in which housing prices decline and sentiment and perhaps consumption does not follow suit. The official press release is here.
curry borrowed half a mil from a vegas loan shark.
game over.
“Glenn Beck isn’t my cup of tea, but it depends who the alternative is. I just want the center-right to take over, and the current socialists to disappear. Believe me, if/when we become France, there won’t be another America to turn to to save us. There will simply be an abyss. We are all that is left. And “we” are disappearing, day by day by day.”
Personally, i can’t wait to attend the inaugural Socialist Workers Parade on the mall in DC. Date is still TBD – but it’s sometime right after Obama issues the executive order to cancel the 2010 election.
Oh DIIIIIIIIBS! Come out to plaaaayay!
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By daveinbedstuy on May 25, 2010 4:46 PM
The Fed has printed, and given historically unprecedented amounts of money. Eventually, that money will create inflation, at least in the high single digits. So 8% mortgage rates are not crazy.
The question is when. If Europe continues to tank, it may take more time than expected; longer than the 2-3 years which was the previous guess.
And so did Eddy Curry of the Knicks! 85%???!!! What!!!???
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No, Greece did.
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FEDs unloading MBS’s, risk, debt default, etc. A return to normalcy.
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Did the What give you those points?? So you really have no clue then.
And you know and I know that reported CPI is cooked. We are deflating. Real GDP (without life-support deficit spending) is bloodshot red. Sooner or later the plug will get pulled. Bzzzzzzap! Flatline…beeeeeeeeeeeeeeeep….
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BHO, make it happen with 8% or heck 10% interest rate. I’ll sign up for that now.