San Diego Home Price Appreciation Eases
San Diego home prices
San Diego home prices slow down in August according to the S&P/Case-Shiller Home Price Indices. Annual growth rates slowed down in the three California cities, with Los Angeles, San Diego and San Francisco posting annual gains of +5.4%, +6.9% and +7.8%, respectively – a significant drop from the +7.5%, +9.3% and +11.2% reported for July.
Seventeen of the 20 cities and the Composites saw a weakening in year-over-year figures, as compared to July.
With August data, we find that 15 of the 20 MSAs and both Composites saw prices fall from their July values. Chicago, Detroit, Las Vegas, New York and Washington DC were the only five cities that recorded margina l improvements in home prices over July. The 10- and 20-City Composites were down 0.1% and 0.2%, respectively, in August versus July.
The table below summarizes the results for August 2010. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data.
| August 2010 | August/July | July/June | |||
| Metropolitan Area | Level | Change (%) | Change (%) | 1-Year Change (%) | |
| Atlanta | 109.09 | -0.8% | 0.3% | -2.0% | |
| Boston | 158.35 | -0.3% | 0.6% | 1.5% | |
| Charlotte | 116.60 | -0.4% | -0.2% | -3.4% | |
| Chicago | 126.70 | 0.4% | 1.0% | -2.9% | |
| Cleveland | 107.00 | -0.3% | 0.0% | -0.4% | |
| Dallas | 119.41 | -1.1% | -0.3% | -1.7% | |
| Denver | 128.57 | -0.1% | -0.4% | -1.2% | |
| Detroit | 71.54 | 0.5% | 1.6% | -0.1% | |
| Las Vegas | 101.03 | 0.1% | -0.8% | -4.5% | |
| Los Angeles | 175.55 | -0.4% | 0.3% | 5.4% | |
| Miami | 147.47 | -0.3% | 0.7% | -1.0% | |
| Minneapolis | 126.53 | -0.3% | 0.7% | 2.9% | |
| New York | 175.27 | 0.2% | 1.2% | 0.1% | |
| Phoenix | 108.84 | -1.3% | -0.6% | 0.4% | |
| Portland | 147.02 | -0.9% | -0.3% | -2.3% | |
| San Diego | 163.99 | -0.6% | 0.7% | 6.9% | |
| San Francisco | 142.83 | -0.3% | 0.5% | 7.8% | |
| Seattle | 145.93 | -0.8% | 0.1% | -2.4% | |
| Tampa | 137.53 | -0.5% | -0.2% | -4.1% | |
| Washington | 188.26 | 0.3% | 1.0% | 4.8% | |
| Composite-10 | 162.13 | -0.1% | 0.8% | 2.6% | |
| Composite-20 | 148.59 | -0.2% | 0.6% | 1.7% | |
| Source: Standard & Poor’s and Fiserv | |||||
| Data through August 2010 | |||||
California home foreclosures
Taxpayers Supporting Foolish Homeowners
San Diego housing
No rational private firm would bankroll the current mortgage market. Government propping merely means using coercion to extract money from renters and other taxpayers to support foolish homeowners who bought during bubble times and craven banks who didn’t man up, admit their insolvency, and close their doors.
Push down the price of housing and more Americans will actually qualify for a home-loan without blind support from the government. Home-purchasing is not a right in America. If you can’t afford to buy a house, rent!