S&P/Case-Shiller Home Price Index Falls
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
Real Estate Market 2011 Double Dip
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.
5 Reasons For A Real Estate Double Dip
1. In almost all zip codes today the total economic cost of home ownership notably exceeds the total economic cost of renting. For only a small minority is this unimportant; for them the psychic benefits of ownership are real and large.
2. The majority of owners and potential owners are pessimistic about any real increase in home prices over the next five years; many are of the view that the effective purchasing power of equity congealed in a residence will actually decline over the next decade, compared with other real stores of value Read more
Coming Double Dip For Real Estate
Real-estate attorney Stephen Meister on why he feels a double-dip recession is coming in the housing market.
Be sure to view my recent prior posts on the double dip for San Diego housing market:
San Diego real estate 2010 2nd. half outlook
San Diego home value forecast
Housing Double Dip?
May’s housing numbers were a shock for many, but does the drop in housing mean we are headed into a double-dip for housing … or, is this an excellent time to pick up a real estate bargain at a historic low interest rate?