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Post by jeffolie on Nov 26, 2013 8:07:02 GMT -6
U.S. home prices rise 0.7% in September
(MarketWatch) -- U.S. home prices rose 0.7% in September, the smallest monthly gain since February, as 19 of 20 cities tracked by a gauge from S&P/Case-Shiller saw lower growth, according to data released Tuesday. After seasonal adjustments, home prices in September rose 1%, up from 0.9% in August, but down from 1.9% monthly growth earlier this year. On a year-over-year basis, home prices grew 13.3% in September, the fastest annual pace since February 2006. "The strong price gains in the West are sparking questions and concerns about the possibility of another bubble. However the talk is focused on fear of a bubble, not a rush to join the party and buy," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. He added that recent housing data signal that the market is starting to shift to slower growth. Despite recent gains, home prices in September were about 20% below a 2006 peak, according to Tuesday's report
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Post by jeffolie on Nov 26, 2013 8:11:29 GMT -6
my jeffolie view: remains that rich Type 1 consumers thrive on the wealth effect from the mini bubble in houses purchased to convert foreclosures into rental income plus record high stock prices resulting in strong new vehicle sales for light trucks and expensive SUVs while Type 2 most common American suffer a 'regular depression' about to worsen from Obamacare higher health insurance costs in 2014-16.
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Post by jeffolie on Nov 26, 2013 8:29:55 GMT -6
Nov. 26, 2013
U.S. house prices up 0.3% in September: FHFA
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(MarketWatch) -- Home prices climbed a seasonally adjusted 0.3% in September, and increased 8.5% from the same period in the prior year, the Federal Housing Finance Agency reported Tuesday. The data is compiled using only mortgages backed by Fannie Mae and Freddie Mac .
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Post by jeffolie on Nov 26, 2013 8:53:39 GMT -6
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