Archive for the ‘housing’ Category
Case-Shiller Data for March
The Case-Shiller data for March was just released, and it, as expected, doesn’t look good. The NYTimes writes:
Prices in 20 major metropolitan areas dropped in March by 18.7 percent from March 2008, according to the Standard & Poor’s Case-Shiller Home Price Index that was released Tuesday. That was about the same as February and just shy of January’s record [...]
The Third Wave Foreclosure Crisis
Foreclosures haven’t abated; if anything, they continue to pick up steam. They vary significantly by region - hotspots like Phoenix and Detroit are facing true epidemics. Other locations - like parts of NYC, for example - seem to be mostly bypassing the worst of things.
Yet now we’re facing what some economists are calling the third [...]
20% of Houses Underwater
The WSJ reports this morning that now over 20% of houses in this country are underwater - that is, the owners owe more on their mortgage than their house is worth:
The increase in the number of such “underwater” borrowers comes amid signs that falling prices are making homes more affordable for first-time buyers and others [...]
February Case-Shiller Numbers
Today the S&P released the Case-Shiller numbers from February:
In February, the price of single-family homes in 20 major metropolitan areas fell 18.6 percent from the year earlier, compared with a record drop of 19 percent in January …
Half of the 20 metropolitan areas in the housing index posted record year-over-year declines. In all, the Case-Shiller 20-city [...]
Real Estate Prices Visualized
If you read this blog, then you have probably have guessed that visualizing complex data sets is one of my favorite things. The NYTimes in particular has become quite adept at this - I love most of their interactive features.
This article about the housing crisis finally hitting Manhattan is excellent, and it exemplifies the problem [...]
A Bubble Deflated…
does not re-inflate. At least according to Charles Hugh Smith:
It is simply a truism that bubbles never reflate, ever. Tulip bulb valuations did not rise to stratospheric heights after the Tulip Craze popped, and the Nasdaq dot-com bubble did not reinflate, either, for the very good reason that bubbles are never based on rational valuations–they [...]
