Tag Archive | "House Prices"

Prices lowest since crises began.

The latest Standard & Poors S&P Shiller Home Price Index which came out Tuesday doesn’t bode well for the Cities at all.

In case you don’t know, I am referring to an index which is a composite 20 metropolitan area indices. It is a 3 month moving average of house prices.

Only one of the 20 metro areas showed an increase in prices from a year ago. That means 19 showed prices continuing to fall. And the greatest decline in prices, percentage-wise from those 19 metro areas – was…. yes you guessed it – Minneaplois.

Housing prices fell 10% in March from the same time frame in 2010.

It looks like prices have dipped to the lowest point since this real estate crisis started.

How low can we go? Good question. I wish I knew the answer.

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Will house prices fall even more?

I  don’t claim to be an expert in all things economy related, but I do get suspicious rather easily whenever I read an overly optimistic bit of economic news.
One factor which affects (or is it effects – I never can remember) the health of the economy to a huge degree, in a word is, Confidence. And I can’t help but feel like we, the Masses, are played and manipulated by those who report on the latest positive numbers or increasing trends. And then we are supposed to be, snap, all “confidant” again and start buying things on credit that we don’t need – just like the good ole days.
Well it’s taken me a lot of years of living, but I no longer believe the hype (I’m definitely a slooow learner). Just as several of my friends are telling me they think we are at the worst of this economic recession and we will be starting “up” the other side of this dip now, I have to say I don’t believe it for a second.

Here is an article in the Wall Street Journal (not one of my favorite sources of news, but even they are right sometimes) which points out a few of the reasons why I am not buying the hype.

http://online.wsj.com/article/SB10001424052748703816204574487240805281318.html

(also – have a look at the video in the side bar of the Home page. Is relevant to this topic as well )


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