Home prices see best yearly gain since 2006

Comments (12)
User21 wrote:

Great to see home price climb, don’t know if many people are moving right now as it’s cold out there and this new “artic cold front” thing is gonna make it even colder!!! – Anyways it warms the heart to know we are digging our way out of this mess.

Jan 29, 2013 9:30am EST  --  Report as abuse
Jameson4Lunch wrote:

This isn’t a housing recovery. This is central planning reinflating a bubble.

Jan 29, 2013 11:08am EST  --  Report as abuse
AlexJones wrote:

That or the value of the dollar has dropped….

Jan 29, 2013 11:24am EST  --  Report as abuse
AlexJones wrote:

“User21″

Why is this good? You have been misinformed.

Jan 29, 2013 11:25am EST  --  Report as abuse
gregbrew56 wrote:

Are we really digging our way out of this mess, or is the 1% buying up real estate at bargain prices in speculation? Alternatively, is the 1% buying up bargains to rent to the new working poor created by the very same speculators and bankster criminals that remain unprosecuted?

The rich get richer and the poor get poorer. I think the French revolution should be a required course of study.

“Let them eat cake.”

Jan 29, 2013 11:28am EST  --  Report as abuse
Crash866 wrote:

“Prices in the 20 cities rose 5.5 percent year over year, making for the strongest yearly price increase since August 2006 when prices were on their way down.”

Best gain since 2006 durng one of the worst housing crisis situationz in US History…not saying much…

Jan 29, 2013 12:29pm EST  --  Report as abuse
Crash866 wrote:

gregbrew56
Whaaaa!!! Brain Washed eh…. 1%, haven’t heard that one since November. So everybody buying homes now are the 1% banksters and then renting to the 99%…yikes!!

Jan 29, 2013 12:32pm EST  --  Report as abuse
neversay1234 wrote:

Nonsense. While we see some localized adjustments, almost all the so-called “good news” about housing being on the mend is linked to rising sales of foreclosed properties, which have become an incredible bargain at artificially low interest rates. And new mortgage regulations have kept the worst of the old regulations: not required is any minimum down payment or credit score, which studies show are the two most important factors for predicting the ability of a borrower to pay back a home loan. Nor do the regulations require creditors to obtain or consider a consolidated credit score or prescribe a minimum credit score that creditors must apply. No job is required to qualify for a home loan, just “documented” income(remember the term “Ninja”?).
Housing is not on the mend. Housing prices will continue to drop. They will continue to drop until this country starts creating enough wealth to support jobs that provide sufficient stable income for home purchases. At the moment home ownership continues to decline, and all we have is a President( and his advisors) whose economic ability is reflected by his record in Illinois (which Standard and Poor just downgraded to worst credit rating in US).

Jan 29, 2013 12:58pm EST  --  Report as abuse
MikeyLikesIt wrote:

I wonder how the market will react when interest rates are finally forced to rise. I mean they’ve been held at historic lows for years now and it’s been killing the elderly and the savers. And all this money that has been pumped into the economy (does anyone happen to have a rough total?) will also start bumping up inflation.

I just don’t see this “recovery” holding steady when the flow of cheap money is finally cut off.

Jan 29, 2013 1:28pm EST  --  Report as abuse
Bassist wrote:

High home prices are bad for entry level buyers who only need a decent roof over their heads!

Jan 29, 2013 2:07pm EST  --  Report as abuse
Jameson4Lunch wrote:

MikeyLikesIt – The figure I’ve heard kicked around is the Fed has pumped out around 14.5T in liquidity, and is currently sitting on a 2.5T – 3T balance sheet, expected to increase by another 1T this year.

The economy collapses if interest rates rise. It won’t happen.

Jan 29, 2013 2:14pm EST  --  Report as abuse
honestyplease wrote:

Actually, the Case-Shiller home price index put average home prices back to 2003 levels. Only if you pick and choose what to report will you get the 5.5% year over year number reported in this piece. Oh, and last year was such a great year, RIGHT?

Jan 29, 2013 4:48pm EST  --  Report as abuse
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