July 12, 2024

 

San Diego real estate marketThe S&P/Case-Shiller 20-city report on home prices showed a decline of 18.5% in December 2008 from the same month a year earlier.

The index has fallen every month since January 2007. Home prices fell 18.2% in the fourth quarter of 2008, the largest drop in its 21-year history. The average price of a home has dropped by more than 25% after peaking in 2006.                                                                               San Diego real estate market

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talk | discussion | StreetEasy New York Real Estate Search – Discussing 'National – Home Sales and Prices Drop Again, 45% of Sales Distressed'. email updates · RSS National – Home Sales and Prices Drop Again, 45% of Sales Distressed. 1 comment. nyc10022. about 3 hours ago. ignore this person …

DallasDirt » Blog Archive » Case-Shiller: Biggest Home Price Drop … – 2000 was when Standard & Poor’s/Case-Shiller National Home Price Index first started tracking home sales, but the drop is significant. However, this very cool interactive widget from the NYT allows you to find your city — Dallas is one …

Jan. home sales fall again nationally, fall steeper in St. Louis … – If you haven’t seen yet, a new batch of existing home-sales data came out today from the National Association of Realtors. Sales fell, again, down 5.3 percent from December and by 8.3 percent compared to January of last year. …. You’ll really see prices drop the longer the depression goes on. At some point, many who want to sell but don’t have to will eventually cave and finally reduce their prices. Just becuase new houses are still high doesn’t mean the builders are …

5 thoughts on “National Home Price Index Drops 18.5%

  1. The thing that makes economics more of an art than a science is that conditions out in the real world are always changing. Wnile a laboratory experiment controls the circumstances, “the economy” at any given time is largely unique. Factors may be somewhat similar to other times, but economies do not duplicate.

    And the fact that economic cycles do not recur at precise intervals does not invalidate the cycles.

    Looking at the mass of derivatives we have currently and the direction we’re in, it is probable that there’s a long downside left in this cycle. And there probably isn’t a “cure”. The idea that there is some magic “right” thing to do to fix everything is a myth. A very popular myth. Especially among our “leaders”. The mantra of our leaders is “We can’t just do nothing” when doing nothing and letting the markets work their way out of it is probably as good a tactic as any.

    If humans were so damn smart they wouldn’t create messes like this in the first place.

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  2. “The massive inventory overhang in the market and the surge in foreclosures mean prices will continue to fall rapidly,” Ian Shepherdson, chief U.S. economist at High Frequency Economics in Valhalla, N.Y., said today in a note to clients, Bloomberg reported. “The administration’s rescue plan will, in time, slow the rate of decline, but it won’t happen immediately.”

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