Depends on who you ask.
According to new Housing data just out:
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported an 18.8% annual gain in December, remaining the same from the previous month.
The 10-City Composite annual increase came in at 17.0%, up from 16.9% in the previous month. The 20-City Composite posted an 18.6% year-over-year gain, up from 18.3% in the previous month. Phoenix, Tampa, and Miami reported the highest year-over-year gains among the 20 cities in December. Phoenix led the way with a 32.5% year-over-year price increase, followed by Tampa with a 29.4% increase and Miami with a 27.3% increase. Fifteen of the 20 cities reported higher price increases in the year ending December 2021 versus the year ending November 2021.The charts on the following page compare year-over-year returns of different housing price ranges (tiers) for Phoenix and Tampa.”
Before seasonal adjustment, the U.S. National Index posted a 0.9% month-over-month increase in December, while the 10-City and 20-City Composites posted increases of 1.0% and 1.1%, respectively.
“This month’s report covers December 2021, and therefore brings our reporting on calendar 2021 to a close,” says Craig J. Lazzara, Managing Director at S&P DJI. “For the year, the National Composite Index recorded a gain of 18.8%. This is the highest calendar year increase in 34 years of data, and substantially ahead of 2020’s 10.4% gain. The 10- and 20-City Composites rose 17.0% and 18.6%, respectively – a record for the 20-City Composite, and the second-best year ever for the 10-City Composite.
“We have noted that for the past several months, home prices have been rising at a very high, but decelerating rate. The deceleration paused in December, as year-over-year changes in all three composite indices were slightly ahead of their November levels. December’s 18.8% gain for the
National Composite is the fifth-highest reading in history.”
In terms of charts? Average prices continue to price housing out of the middle class:
The Real Story is Deflation Here!
I will annotate this more on Peoplenomics.com tomorrow:
While Housing prices were up 18.,8% nationally per the S&P data, the REAL disaster is hidden and only revealed to the Zurich trained gnomes: You see, during this period, the US Fed expanded the US Monetary Base by 23.1858169 percent.
To my simple, living in the sticks too long, redneck, slow-talking mindset, we should be able to calculate the “efficiency of inflation.”
In this case, it’s 23.18 divided into 18.8.
Thus, Fed Inflation Efficiency was 81.1% Efficient at Floating the Economy/.
Betcha feel great right now, huh? You’re paying the bill, after all.
Write when you get rich,