CoreLogic: Home Prices Jumped At The Fastest Rate In 6 Years
http://www.businessinsider.com/corelogic-october-home-prices-2012-12
Core logic confirms accelerating housing recovery
By iwog Follow Tue, 4 Dec 2012, 9:22am 1,120 views 21 comments
In Lafayette CA 94549
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Simi Valley, CA
words can cause anxiety.
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Mark D says
But when they hit both the up and down sides, they have all bases covered...
......"National home prices, including that of distressed homes, climbed 6.3 percent year-over-year in October, rising for the eighth straight month, according to the latest data from CoreLogic. This is the biggest increase since June 2006.
On a monthly basis however home prices declined 0.2 percent."
"Climbed" and "declined" in the first few sentences... nice CYA..
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47 male
Lafayette, CA
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Try and look past your own silliness for once.
The market dropping .2% in October (almost flat) is unheard of. The market should be dead right now, not maintaining the Summer selling season prices.
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iwog says
By the same token, using data from a single month does not make a trend..... it just makes for a good title to an article.....
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47 male
Lafayette, CA
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Call it Crazy says
Bend over skippy:
Call it Crazy says
Call it Crazy says
Call it Crazy says
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"data for a single month does not a trend make... unless I like the trend, then that data is the shizzlemacnizzle!!!!"
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Home prices will be 10x in a year. If you're not in the market now buying your kids will be left to eat vermin from dumpsters.
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El Cerrito, CA
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Bennie will buy, price will stay high.
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iwog says
You have wwwwaaaaaayyyyyy too much time on your duck hands...
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robertoaribas's website
@appocolypsfuck... to hell with dumpsters lets you and I open the vermin restaurant and make bank!!!!
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Madison, WI
Without a doubt, I'm seeing junk that should be bulldozed selling for 50k, and ex-meth houses priced at 80k in my neck of the woods. Not bubbly, just that money is cheap to borrow, and for many right now, plentiful. With the kinds of YOY price gains we are now seeing again I see we buy house signs again along the street. If locals are not buying, foreigners are buying, investors are buying, FHA has participated big time in this reflation of RE as well.
I see people buying condo's, SUV and boats in the driveway again. Those credit card applications are hitting my mailbox again, feels like the good old days.
It does not seem right, predicating the success of the economy based on jacking home prices and repeating the same housing bubble all over again, but it is interesting to see how we are on course to pump this up to previous levels in half the time prior.
Same thing they did to the DOW, doing in 2009-12 what it took 2001-2009 to do.
It is also interesting to see how the rental market is changing, more and more people are living together with some wages stagnant. I say some because, well, lol, my brother is a good example, just decided to take 3 months off work for the heck of it, while he's gone fishing and hunting, he gets a raise, waiting for him when he returns to work. Still, we have groundbreaking on some really big rental projects coming up as rents are hitting record highs for the area I live in, with interest rates so low it was just a matter of time before I'd be seeing all the construction cranes springing up all over the city again.
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47 male
Lafayette, CA
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Roaring 20s here we come!!
High wealth disparity will put us in an endless boom bust loop. The next phase is boom and it will drag housing and the stock market to new highs.
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Iwog, your wings are on fire, you need to find an elephant to stamp them out.
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iwog says
This is old news. Can you post something new?
I'm analyzing what to do with my RE gain now. It doesn't make much sense to cashout at the top due to taxes and depreciation recapture. If you do 1031, then it's a wash because you're selling at the top only to buy back at the top.
For the partnership wit PK, we already know what we will do with our gain.
What will you do with your gain? And you Roberto?
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47 male
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E-man says
I thought it was your turn to come up with the million dollar ideas?
It's quite a coincidence you brought this up today because earlier I was looking at refinancing options and cashing out would only cost me another quarter of a percent. I don't recall it being that low before and I would gain an additional half percent rate reduction plus get all fees paid. It's a no brainer except for waiting another week or so for fiscal cliff fear factor to fully materialize.
Soooooo I'm faced with where to stick money as well. I hate to say it but the stock market looks the most attractive for the simple reason that everyone is scared shitless about capital gains and dividend tax rates rocketing upward on January 1st.
Of course this means rolling the dice and deciding when to pull the trigger. Congress might grow up but I doubt it. I still want a house in Vegas if only to say I have a house in Vegas that will earn me brownie points in my extended family circle. There are still a few condos around that while not nearly as lucrative as last year, cash flow pretty well.
Dunno, tell me what you think.
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Last couple days of trading this year are the time when to load up on winning stocks IMO. People that have to sell to lock in their 15% capital gain will have to do it this year.
I did the math and it looks like I will hang onto all of my rentals through this boom. Of course, I will change course if I find better opportunity. However, for the JV properties, we will likely cashout and do a 1031 into an apartment complex in Texas or other flat market. We will then do a cashout refi and buy or develop a small vacation resort in Brazil. PK will manage it. The goal is to make at least $2M from our joined rentals. We're looking to acquire 3-4 more properties by this January & Feb.
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How's your farm land idea going?
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47 male
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E-man says
I'm about 1.5 years away.
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@Iwog I had been skimming posts and hadn't "seen" you. I just noticed the new picture. I like it very much.
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http://www.bloomberg.com/video/ecri-s-achuthan-defends-call-for-u-s-recession-BhnZZoJ3S8GB6V9sFCeeTw.html