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Discussion: (13 comments)

  1. I’m amazed (no, not really) that people tout Rising house prices as good. It’s NOT good for anybody but the tax guy. Cities get to get more money when more expensive houses are taxed, but it helps nobody else, but maybe the realtors who get a percentage commission.
    If you sell a house cheaper, you’re likely to buy a house cheaper, too, so you SAVE MONEY.
    (yeah, it “hurts” somebody who bought high and is trying to get rid of a house such as when the owner was a relative who died, but I doubt that’s very often and NOT enough to counter that cheaper is better for almost ALL the rest)

    1. I hereby nominate you for today’s Fickle Finger of Fate award.

    2. PeakTrader

      Stevor, sure, and you feel that way about stocks too.

  2. Max Planck

    Again, using NAR data isn’t proper. You’re quoting cheerleaders.

    1. Are you saying that housing data such as: a) the number of homes sold in November, and/or b) the median sales price of homes sold last month, as reported by the NAR, are factually incorrect?

      1. Jon Murphy

        He’s just another conspiracy theorist. If it doesn’t conform with their world view, the numbers must be manipulated. Just like those claiming the BLS fudged the employment numbers so Obama would win again.

        People like that are probably the only ones keeping the tin foil industry in business right now.

        1. No one and nobody nohow ever manipulates anything throughout recorded history – guaranteed.

          And the BLS didn’t hide anything – government employee counts went from 20.66 million to 22.324 million between July and Sept. (22.32 million in Feb), and I’m like totally sure it didn’t affect the election either.

          Magic is in the eye of the beer holder.

          1. Can I even get a hmmmm for things that make you want to go there?

      2. They’re bubble mal-investments, just like 2006-07.

        1. Jon Murphy

          I’m not really sure you can classify this as a bubble. While prices are improving, they remain well below the pre-recession level.

          While housing starts are improving, they remain some 64% below the pre-recession level.

          Rates look high because they are coming off very deep lows.

          This is an improving market, not a bubble.

  3. Jon Murphy

    A few other statistics regarding this housing report.

    The October-to-November rise was the 4th strongest on record. Typically, Sales have a range of -1.6% to 2.0% growth on November. This year, they rose 5.9%.

    The 5.04 million units sold in November was 14.5% above last year, and the highest single month total in over three years.

    On an annual basis, Sales have averaged 4.6 million units/mo over the past year, an 8.2% gain from this time last year and the highest average in 28 months.

  4. Where’s Waldo with his factual comments about continual lower lows and lower highs on housing prices?

    1. There is no such thing as a conspiracy!

      Signed,
      LIBOR trader

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