Home prices rise

Discussion in 'Economy' started by Chris, Sep 25, 2012.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney) -- In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

    According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month.

    Home prices back to '03 levels - Sep. 25, 2012
     
  2. beretta304
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    ""Clearly the worst is behind us for this market., but this is not a market that is going to take off again," he said. "While you have a firming up, you still have tight lending standards and people who have been burned are reluctant or unable to get back in the market." He predicts it will take several more years before housing prices can gain more than 1% to 2% a year. "


    Home prices back to '03 levels - Sep. 25, 2012

    Alert the media! :cool:
     
    Last edited: Sep 25, 2012
  3. GuyPinestra
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    GuyPinestra Senior Member

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    Still down 10% year over year here in Atlanta, according to the news I just heard on the radio...
     
  4. Katzndogz
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    Katzndogz Diamond Member

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    Printing 40 billion dollars in funny money every month causes prices and values to rise. That's what inflation is all about.
     
  5. Mr Clean
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    Mr Clean Gold Member

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  6. bitterlyclingin
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    bitterlyclingin Silver Member

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    Rebounding from where, Chris? A house here, on the market for 1.4 mil in 2003 will still fetch you only 600 thou today, less than half the value it represented nine years ago and still less than it cost to build then.
    That 800 thou is still missing, still gone more or less permanently to money Heaven, the same place as the money in those long ago 1929 stock portfolios after that long ago memorable October Market Crash and still having the same depressing results on the economy. That's 800 thou worth of goods and services that don't get bought. How many Chryslers and Chevy volts would 800 thou buy, or refrigerators, or TVs, i phones and i pads, or days and nights at the Breakers in West Palm Beach, or flights on American Airlines to get there? The economy's still going to suck for a long time until that's corrected, and that takes jobs. The guy who recently brought us that little four man "Bump in the road" in Libya ain't gonna bring us any jobs either. See how quickly the jobs at the Chevy Volt plant evaporated. Or at Solyndra? The guys who chipped into the campaign because they thought it would be kinda nice to have a Commie in the office of the president didn't turn out to be the best job creators either.
     
  7. beretta304
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    One thouse hat I own was purchased for $260,000. Went as high as $435,000. The same one next door just sold for $255,000.

    What a rebound!
     
  8. VaYank5150
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    VaYank5150 Gold Member

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    Yeah, I wonder if any of those banks that Bush bailed out after they caused this mess, have actuall learned yet that Credit Default Swaps are a bad thing?
     
  9. Chris
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    Chris Gold Member

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    The recovery continues.....

    Umemployment has dropped from 10.2% to 8.1%
    The stock market has doubled since the stimulus.
    4.5 million private sector jobs have been created since 2009.
    GDP has been growing since 2009.
    Americans net worth is up $10 trillion dollars since 2009.
    Auto sales are up. Retail sales are up. Home sales are up.
     
  10. beretta304
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    Stick to the subject you statred for now...the housing rebound. We can slap you around later on the rest of the lack of a recovery.
     

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