By iwog follow 2012 Dec 4, 1:22am 2,263 views 13 comments
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CoreLogic: Home Prices Jumped At The Fastest Rate In 6 Years
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words can cause anxiety.
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.
Call it Crazy 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.....
Bend over skippy:
California house sales dipped 16.5% last month
Number of Homes Facing Foreclosure Rose in July
Existing home sales fall 1.5 percent in May
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.
Bennie will buy, price will stay high.
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.
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.
Iwog, your wings are on fire, you need to find an elephant to stamp them out.
This is old news. Can you post something new?
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.
How's your farm land idea going?
How's your farm land idea going?
I'm about 1.5 years away.
@Iwog I had been skimming posts and hadn't "seen" you. I just noticed the new picture. I like it very much.