Prices only dropping .1 percent in November is extremely bullish considering in a typical winter prices will drop around 5% before recovering in the Spring.
The seasonally adjusted index is an attempt to quantify these cycles. Instead of saying "The index only dropped .1% which is actually fantastic considering it usually drops .7% in November", the Case-Shiller adjusted index says "The market rose by .6%"
Likewise if real estate underperforms this Spring and Summer, the CS adjusted index will be lower than the raw data and you will no doubt come back and sing the praises of the CS adjusted index regardless of what the raw data says.
They could of "spun" it even better... The NSA was down .2 percent the month before, so they should of said that the NSA rose .1 percent this month... They missed even more "positive" news......
It's not spin. It's an attempt to quantify the data better. If you want to see spin, go back and read some of your posts from early 2012 where you predict doom and gloom right before the market exploded.
Data from the CS article from today.. which covers Oct to Nov (before the Winter actually kicked in)
So you're going to continue being willfully ignorant eh? The winter slump starts in late Summer when the kids are getting ready to go back to school. Stop trying to pretend you are a RE expert and fucking listen to people who actually know what the market does.
I'm an arrogant asshole too, but at least I know when to shut up.
Well, it appears the CS index has posted the second consecutive monthly decline . However year over year prices have risen and Phoenix has risen the most, with Las Vegas and Detroit posing double digit annual increases. Mixed bag I guess?
Inventory has been droppin all January here in Phoenix, it usually climbs.
...."I know that people desperately want homes to again become "wealth creating machines." despite every bit of common sense indicating that they are instead depreciating assets that generate zero positive cash flow if you happen to live in one, but the data is just not there yet."
...."Well, except in places like Phoenix where the bubble ran rampant and people are quite ready to give that wheel one more spin. Never mind that Phoenix is facing some very serious long-term water challenges that will rear their head well before the houses they are buying will come to the end of their serviceable life, the people in Phoenix want to party again."
...."Okay. Best of luck to them, or perhaps I should say better luck this time."
Except where is the wage inflation to go with it? Guess the real estate barons will have their gilded age and the rest of us can have gruel for dinner.
Yes, follow the money and you can see who's pulling the strings. There might have been wage inflation if the unions had more power, but instead we see inflation throughout the FIRE sector (securities, insurance, housing).