Just out from Case-Shiller/S&P – a Month-over-month decrease:
Year-Over-Year
- The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 1.7% annual gain in July, down from 1.9% the previous month.
- The 10-City Composite annual increase came in at 2.3%, down from 2.7% the previous month. The 20-City Composite posted a 1.8% year-over-year gain, down from 2.2% in the previous month.
- New York, Chicago, and Cleveland reported the highest year-over-year gains with year-over-year price increases of 6.4%, 6.2% and 4.5%, respectively.
- Tampa posted the lowest return falling 2.8%.
Month-over-Month
- The National Index posted a -0.2% month-over-month decrease while the 10-City and 20-City Composites both posted decreases of -0.3% respectively before seasonal adjustment in July 2025.
- After seasonal adjustment, the National Index posted a -0.1% decrease while the 10-City and 20-City Composites also posted decreases of -0.1% respectively.
Historical
- Measured from its July 2006 peak, the 10-City Composite is up 59.8%.
- The 20-City Composite has eclipsed its July 2006 peak by 65.6%.
- The National Index is up 79.4% from its July 2006 peak.
“July’s results reinforce that the housing market has downshifted to a much slower gear,” said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. “National home prices rose just 1.7% year-over-year, down from June’s 1.9% pace and a far cry from the double-digit gains of two years ago. In fact, this is one of the weakest annual price increases in the past decade – and notably, it’s below the 2.7% rise in consumer prices over the same period.”
After the numbers, stocks came back a bit – but still down a bit from the Monday close.
Now to see what the rest of the day brings…
~ure
“Housding Updated”
You may have subconsciously expressed that they ring a bell at the top!
Ding, ding, ding…
florida and nevada . cooked . spare a dime territory
cant short bonds no more after the housing disaster . so back to zorros euro to keep the gin joint going . truly pathetic and trump lies about everything . im sendin out a posse to get yah zorro!!! gunna gunna gunna everything donny . ill tell yah what your gunna do boss man . gunna be bad
dare yah to like the USD .. kings probably buddy of zorro . has been known to lie about his friends . aaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhaaaaaaaaaaaaaa
As a Vietnam – era vet, the speech to the generals was magnificent. I didn’t believe those changes would ever happen. I do believe there will be a reduction in flag officers as a result. Good riddance.
“Good riddance.”
I’ll give it a day or two to soak in, but when I see them start to resign I’ll join you with a hearty ‘AMEN’.
Thank you. I loved it as well
Amen.
IMO the best military speech since Patton’s address.
Obama canned all the best flag officers. Of these who remain, I honestly don’t care whether they stick around or wash out on an exercise mat. I suspect there are a number of O-4, 5, and 6’s who’re as good or better General and Admiral material than those we have. Frankly, I hope Pete extends the PT requirements to the National Guard and reserves.
I’m sorry. I want our military leaders to be scary.
Not scary psychotic — scary, always looks angry.
Putin’s got Sergey Lavrov (who always looks pissed.) I want our military to have a hundred Lavrovs…
disgrace destroying the USD . ahh like the good fellas say , forget about it . but dont close positions open more
Prices stopped going up only because everybody who can afford to buy at 5x to 7x their annual salary now, standard used to be a MAX of 3x one’s annual salary, has now leveraged themselves – assuming BOTH people will ALWAYS have a good job – to the hilt.
Once couples start losing ONE of their two jobs … OMG, the shit will hit the fan big time since they won’t be able to afford the monthly payments and do NOT have much in the way of savings to backstop them.
A collapse in housing credit markets equates to economic implosion.
How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
E. Hemingway, circa 1926
Phase two has already hit the subprime auto loans, and quite abruptly. Whether that turns out to be the first credit deflation domino for the larger economy, we will discover suddenly, not later. One of the primary characteristics of runaway credit deflation is the speed and utter violence of the contraction pangs, as the credit balloons and houses of cards collapse abruptly, with little warning to individual investors and property owners. Not sure if the Fed has any real ammunition left, which may be behind Powell’s slow response. Fasten seat belts.
fwiw I stopped by a “fixed price” used car lot over the weekend (I only stop by when they are closed) that always prices it’s vehicles at 15% to 30% UNDER blue book wholesale. They are mostly a dealer fed lot for selling a dealer’s competing brands trade ins that the dealers don’t want to sell on their lot and are too lazy to take to the auction, He has been around forever and the owner has a good eye for mechanically perfect vehicles (bought two vehicles for the kids there during their growing up years)
Anyway … he had three good pickup trucks there, and HIS prices were about 40% LESS than HE would have sold them for two years ago. WOW
I have watched his lot for years as an indicator of lower middle class economic stress … and it has never lied to me. His pricing leads govt statistics by a solid 3 to 5 months. The pricing there this weekend indicated a very stretched lower middle class economic environment, and supposedly our local economy is BOOMING!
Obviously fwiw
AG : same era. I was spared due to Kissinger’s “peace is at hand” announcement (foible). Same gen., loads of friends saw IndoChina up close. Thanks for your service! We have rather a lot of flag officers. Time to get lean. Go the warrior crede! E
Just went to a highly recommended (by expats) Doctor because wife has a upper respiratory thing. Waited in a quiet room for ten minutes, no appointment, gave his nurse her name and birthdate. We went into his office, he had a decent conversation with us, looked in her throat, had her say Ahhhh, stethoscope the longs and heart, said “You have bronchitis. Stop it before it becomes pneumonia.” Wrote a scrip for choice of two anti-biotics, added 50 Ivermectin 12mg just because we asked for them, gave some advice about how to treat her, then just asked for $20 local currency (about $9 US).
Then to the pharmacy, and got it all for $31 local (about $14 US).
And the Democrats want 1.5 trillion? My outside the CONUS experience says US healthcare is just a scam that needs to end.
That’s all.
Stiks
Ure late! hahaha. its 0522 PST.
i been up since 0300 taking with THE DUDE. about to grab some gears and get on with it.
hope you have a good
day
Mr Ure.
i am already off to a good start.