Hot off the press release from Case Shiller, S&P, CoreLogic:
NEW YORK, October 25, 2016 – S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data for August 2016 shows that home prices continued their rise across the country over the last 12 months. More than 27 years of history for these data series is available, and can be accessed in full by going to www.homeprice.spdji.com. Additional content on the housing market can also be found on S&P Dow Jones Indices’ housing blog: www.housingviews.com.
YEAR-OVER-YEAR The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.3% annual gain in August, up from 5.0% last month. The 10-City Composite posted a 4.3% annual increase, up from 4.1% the previous month. The 20-City Composite reported a year-over-year gain of 5.1%, up from 5.0% in July.
Portland, Seattle, and Denver reported the highest year-over-year gains among the 20 cities over each of the last seven months. In August, Portland led the way with an 11.7% year-over-year price increase, followed by Seattle at 11.4%, and Denver with an 8.8% increase. Ten cities reported greater price increases in the year ending August 2016 versus the year ending July 2016.
MONTH-OVER-MONTH Before seasonal adjustment, the National Index posted a month-over-month gain of 0.5% in August. Both the 10-City Composite and the 20-City Composite posted a 0.4% increase in August. After seasonal adjustment, the National Index recorded a 0.6% month-over-month increase, and both the 10-City Composite and the 20-City Composite reported 0.2% month-over-month increases. After seasonal adjustment, 14 cities saw prices rise, two cities were unchanged, and four cities experienced negative monthly prices changes.
Then we get to the charts:
The following chart shows the index levels for the U.S. National, 10-City and 20-City Composite Indices. As of August 2016, average home prices for the MSAs within the 10-City and 20-City Composites are back to their winter 2007 levels.
Again, my understanding is that while the price in nominal terms is back to 2007, that’s not adjusted for inflation.
You will no doubt remember that chart that I put up every so often. The one that suggests we could have another 5-9 months of craziness before the final popping of the largest financial bubble in world history.
That is to be expected, of course. Since we have more people, and less resource than ever. If you doubt me, go fishing sometime and talk to me about the catch.
I can’t help but begin the balance of the column this morning with a hat tip to the Daily Caller for reporting “Facebook COO In Leaked Email: I Still Want Hillary To Win Badly…”
Yes, I sure it will be “badly” and for a wide
Obamacare Rate Coverup Breaks
Let’s roll with the story in the UK Guardian this morning explaining that how lying, over time, desensitizes people to lying: “From porkies to whoppers: over time lies may desensitise brain to dishonesty .“
Since my work is in the field of economics, and we look at the world through unabashedly money-colored glasses, let’s talk about the Big Obama Lie on Healthcare for a minute.
Some large number of months back, a friend of mine – a very liberal sort with a heavy-duty math degree – called me every name in the book for warning that Obamacare would be going up 30% in 2017. “No, no, no George. You’re an idiot…” he insisted. OK, he was right about the idiot part, but not about my economic assessment.
Because this morning here come the reports that Obamacare bills will be going up and AVERAGE of 25% in 2017!
Fortune Magazine – which is not grinding a political axe, headlines “Obamacare Premiums for 2017 Jumped 25% on Healthcare.gov.”
On the other hand, CNN – which some call the Clinton News Network for their “friendly” coverage sells it as “…premiums to soar 22%.”
And my favorite liberalista apologists at NPR skip over the screwing of the wallet you’re in for and offer instead the lefty free lunch: “Rates Rise Again For Obamacare Health Plans, But So Do Subsidies.”
I don’t want to risk repeating myself, but Obamacare is a new income tax, and since it is government mandated, it is a what?
Yes, it’s a graduated income tax in insurance clothing. It’s also corporate welfare for the insurance moguls. Many of which are in the One Percent, but then again they can be: Most will get free employer-provided insurance since the overhead for healthcare is marked up and passed on to who?
Another thing I mentioned to you in the past was that Paul Ryan is the head of the Obama Wing of the GOP. The majority of so-called republicans (an exception maybe being Rand Paul) have no conception of small government, limited foreign entanglements, actual equality not just in left wing sloganeering – which we will get to in a minute, but they also haven’t figured out free trade.
As luck would have it though, I won’t point these items out in detail this morning.
I will simply tell you that I told you there was a republicorp and democorp conspiracy to keep the Obamacare screwing a secret until AFTER the election. Which is treasonous, in my view, since it consitutes trying to hide facts from the voters that might be useful at the polls.
Which, by the way, explains why the Turncoat Paul Ryan Wing of the GOP is furious that they have been outed as co-conspirators in the financial rape of your wallet.
Even more amazing is that they are now BLASTING Obamacare after their “budget deal” to keep this buried has now surfaced.
If it doesn’t make sense to you yet, go back and re-read the article on lying and things will fall into perspective.
Meet the New Racists
Ure’s truly is not a racist. I worked in R&B radio for several years where I was the minority. Went to a predominantly non-white high school, have relatives who are black, etc . etc.
Thanks to an even grounding in multiculturalism before it become a growth industry, and a firm belief in the Constitution, I am totally down on all forms of racism.
You see, racism is not about white supremacy OR black supremacy. It’s about everyone gets an equal opportunity.
And, I firmly believe, you don’t “make up for past injustice” by writing checks or instituting reverse racism. Equality is just that.
Well, except on the lefty campuses around the country where white guilt is being taught.
Which gets my bile riled up when I ready over on HeatStreet how “Left-Wing Berkeley Protesters Demand ‘Spaces of Color’, Harass White Students Trying to Pass.”
Here is the ugly secret that the left-influenced press in America is not reporting.
Sure: If a black person is not allowed to attend an event based on race that is sure as hell racism and is inexcusable.
BUT: If a white person is denied entry to an event because of their race, then THAT is racism, too.
And that’s where America is today. We’re in the process of monetizing reverse racism.
When I see how “white guilt” classes and such are cropping up in formerly reputable schools, I just shake my head.
Racism is bad/wrong/ugly, no matter who does it. There simply is not “OK racism.”
At least if you believe in genuine equality of opportunity.
But since THAT is one of the ideals enshrined in the Constitution, I guess it would make sense with the slow-motion left wing coup in America, augmented by Obama/Clinton open borders and poor vetting of “refugeees” it’s only to be expected.
We aren’t making cell phones here, or teaching critical thinking…but we can sure monetize race and gender like no other country on Earth.
Not exactly the kind of thing to be proud of, is it?
Maybe it’s time for me to get with the times.
I am going to work on a curriculum outline to promote asthmatic rights and reparations for eczema victims. (You gotta play the victim card because that’s where the big money is…)
We’re all P.O.C. (*people of color if you missed the re-education camp meetings) but where’s the revenue stream in that?
And trust me, it’s all about money and control.
OK then: Is War the Answer?
We know that oftentimes when historical figures who were in leadership positions needed something to distract people from the misery they were imposing, they would start a war.
Yep. Kill people and break things…the historic massive economic stimulus.