Thanks to globalization, we are in a unchartered territory. The US may recover fast or may doom. Who knows?
Opinion piece using 2005 NAR data.
2006 data. Current Case-Shiller referenced here is January, 2008 data.
The headline of this article is, â€œIs the Real Estate â€œBubbleâ€ Bursting?â€ Itâ€™s written by an attorney and doesnâ€™t say much of anything relevant to this discussion.
Perry said, â€œI hope this helps but I can come back with a lot more data if you wish.â€
More data? â€œMoreâ€ implied that you presented something. You have yet to present one data point contrary to the Case-Shiller index. Please, look at the latest Case-Shiller data before you make yourself look any worse here. Of course, Iâ€™m assuming that you know what Case-Shiller is.
2. http://www.bankrate.com/brm/news/real-estate/reminiguide/app ***desite bubble talk, home values appreciating
3. http://www.legalwiz.com/Public/Home/index.cfm?objectID=342 *** a nice little article about regionalized markets and understanding about how they interact with this recession thing.
I hope this helps but I can come back with a lot more data if you wish.
Inflation... well, it seems that my business is picking up with non-nationals because they yen just got a 10% raise toward the dollar. That's ok but things are selling and people are buying....
If you want to help out. Start talking about the "you get deals buying foreclosure scam".
And how about a best answer from one of you two guys...
What exactly is a recessionary position?
Perry said, â€œFor the 50 markets that are going down, there are 50 markets that go up. Austin prices are up 7%.â€œ
Very optimistic, Perry. Sadly, the facts play a different tune. Hereâ€™s a quote regarding the latest Case-Shiller Index and itâ€™s tracking of the 20 cities included in the index.
January Case-Shiller from Marketwatch: â€œOf the 20 cities, only Charlotte, N.C., has managed any gains in the past year, rising a meager 1.8%. For the fifth straight month, all 20 cities recorded lower prices compared with the previous month.
Home prices in 10 of the 20 cities have fallen at double-digit rates in the past year.â€
Please provide a link to your data regarding Austin being up 7%.
Pretty said, â€œSO... A more precise question is.. what markets are showing prices that going down and what markets are going up?â€
OK, hereâ€™s the answer to your question. Going down: all markets. Going up: none, at least in REAL terms (appreciation minus inflation.)
SO... A more precise question is.. what markets are showing prices that going down and what markets are going up?