S&P/Case-Shiller Home Price Index Falls
San Diego real estate agent
S&P/Case-Shiller Home Price Indices report was just released this morning. Unfortunately, it seems to indicate that home prices have still not hit bottom. Though, the decline in home prices seems to be slowing, which is a good sign. For April 2011, the Case-Shiller index registered a decline of 4% from March 2010. This April reading is the lowest reading since November 2010. Read more 
Housing Market Outlook
Karen Weaver, head of market strategy and research at Seer Capital Management LP, talks about the outlook for the U.S. housing market. Weaver talks with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
See my 8-19-10 post: Was There A San Diego Real Estate Recovery? & my 11-17-10 post San Diego Home Sales Take Huge Fall , where I said “The evidence presented in this and other recent San Diego real estate reports seem to indicate that we have already entered into a ‘double-dip’ in San Diego home values.
Real Estate Market 2011 Double Dip
www.brokerforyou.com
Back on July 7th, 2010, I posted “San Diego real estate 2010 2nd. Half Outlook … double-dips” where I predicted the San Diego real estate market was headed for a double dip.
The latest Standard & Poor’s/Case-Shiller National Home Price Index showed that U.S. home prices fell 3.9 percent during the last three months of 2010, back to where they were at the beginning of 2003.
Real Estate – A Coming Down Cycle?
A Second wave of adjustable home loans may push the real estate lower the middle of 2010 through the end of 2011.
Los Angeles attorneys
Housing Market – Stabilazition or Continued Drop?
Futures contracts that trade on the Chicago Mercantile Exchange forecast a further decline of 14.5% by November 2010, after which home prices likely will begin to revive.
Joseph Davis, the chief economist of Vanguard Group, agrees. Even if the tax break were immediate, "it's not going to be very effective," he says. "It's a down-payment issue. The (credit) door has closed shut for many households. And negative home-price psychology has them on the sidelines."
A subsidy to help buyers meet down-payment thresholds "would have been the biggest bang for the buck in housing stimulus," Davis says.
Overall, Davis judges the massive steps the federal government is making to address the current economic malaise to be "necessary but not a sufficient condition for economic stabilization. And the reason is, they do not directly address the two sources of considerable stress in the economy: One is the issue of solvency in the banking sector, and the second front is housing, and they're both related."
Recent Related Posts:
Existing-Home Sales Up – Home Prices Fall
Fed Spends $750 billion to Lower Mortgage Rates
Housing & Stock Market Worries
Real Estate ‘Insiders’ Forcasts … Dead Wrong for 2008
What real estate market insiders were saying to the public in December 2007 about the 2008 real estate market forecast.
What is really troubling is why these same 'experts' are again interviewed when their past housing forecasts were 180 degrees off. Well, I guess, sooner or later they will be correct! Most who purchased homes in 2008 have seen their equity erode. Here in San Diego, 2008 saw double digit home price drops.
Really, what do you expect an 'economist' working for an industry trade group to say about future trends?
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