Diana Olick and CNBC discuss today’s disappointing Case-Shiller numbers. It’s not a housing demand problem, it’ a housing supply problem.
Government efforts to prop up house prices are in effect mandating unaffordable housing and forcing the next generation to transfer wealth to the current one.
Blaming banks for lending when real interest rates are hugely negative is tantamount to placing a bottle of vodka in front of an alcoholic, telling the alcoholic it is the best vodka in the whole world, then blaming the alcoholic for what happens next.
Real Estate Links for Tuesday, May 31st, 2011. “Generation Rent” and Inflation – TMTGM More than 500 cities see more homes become rentals – USA Today Just how out of line are house prices? – Macroblog The Excess Vacant Housing Supply – CR Housing Overhang Persists – TBP Case-Shiller: Home Price Double-Dip Confirmed – HS […]
According to the Case-Shiller Home Price Index, national home prices fell 4.2% in the first quarter of 2011. Home prices have now officially “double-dipped,” falling below their previous cycle-low in April of 2009.
San Francisco Home Prices continued to fall in Q1. Here are some updated charts with Case-Shiller data for the San Francisco Bay Area.
In the last 48 hours, so much news has come out of Europe that has me frankly shaking my head. It is a strange game of brinksmanship they are playing, and it is one we should be paying attention to (as if the brinkmanship played by US politicians over the debt ceiling is not enough). This week we look at what seems to be European leaders taking random walks through the minefield at the very heart of the European Experiment.