Housing Lightens Up

Just out from S&P:

“NEW YORK, JANUARY 31, 2023: S&P Dow Jones Indices (S&P DJI) today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for November 2022 show that home prices declined across the United States.
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 9.2% annual gain in November, down from 10.7% in the previous month. The 10- City Composite annual increase came in at 8.0%, down from 9.6% in the previous month. The 20-City Composite posted a 8.6% year-over-year gain, down from 10.4% in the previous month.

MONTH-OVER-MONTH
Before seasonal adjustment, the U.S. National Index posted a -0.6% month-over-month decrease in November, while the 10-City and 20-City Composites posted decreases of -0.7% and -0.8%, respectively.
After seasonal adjustment, the U.S. National Index posted a month-over-month decrease of -0.3%, and the 10-City and 20-City Composites both posted decreases of -0.5%. In November, all 20 cities reported declines before seasonal adjustments. After seasonal adjustments, 19 cities reported declines, with only Detroit increasing 0.1%.
ANALYSIS
“November 2022 marked the fifth consecutive month of declining home prices in the U.S.,” says Craig J. Lazzara, Managing Director at S&P DJI. “For example, the National Composite Index fell -0.6% for the month, reflecting a -3.6% decline since the market peaked in June 2022. We saw comparable patterns in our 10- and 20-City Composites, both of which stand more than -5.0% below their June peaks. These declines, of course, came after very strong price increases in late 2021 and the first half of 2022. Despite its recent weakness, on a year-over-year basis the National Composite gained 7.7%, which is in the 74th percentile of historical performance levels.”

Still, when we look at absolute prices, they’re still higher than many can afford.

$300,000 is a little tough on $15 and hour, huh?

Markets flipped around positive which raises the odds of a market decline when the Fed decision comes in tomorrow – that is, if you’re a swing trader…

Write when someone gets rich,

George@Ure.net

24 thoughts on “Housing Lightens Up”

  1. Cdc director says “kill all U.S Whites who are not compliant to taking of the kill shot clot shot..as immigrants are the first in line to be vaxed???? No mention of Russia being White Christian..anti homo..

  2. George,

    Looks like you guys are getting freezing rain today. Getting the huge pines taken down before this weather event was a stroke of genius. I had two removed over the farm driveway/power lines last week myself. Tree guy came in, took trees down piece at a time to protect power lines, loaded the debris and gone in a single day. Works by himself with no helper.
    I have one more that was too high for his 70 foot reach bucket truck, and it had one large limb above the power lines. He backed away from that one and said I should call the electric utility company.
    Just hope the ice storm we are having here does not bring it down on the power lines.
    Weather forecast is calling for additional ice today and Wednesday. I am ready for winter to be gone. In my case, if the power is out; the well is out and thus no water. Have back up generator, but a well pump is a power hog at startup. Have to trim loads for well startup to prevent overload of generator. It can handle everything else without breathing hard.
    Stay safe, and hope the weather cuts you a break.

    Regards,
    Lloyd Snider

    /

    • Have the same problem with my well pump. Put a soft-start controller on it. Doesn’t load down the generator so much with the start- up surge current. Available on e-bay for about $80.

  3. “$300,000 is a little tough on $15 and hour, huh?”

    We kid about $15.00 but there’s only four states with a $15.00+ minimum wage.

    The rumor was investment firms are buying residential houses, but not BlackRock. The investment firms rent them back to serfs for living and as vacation spots under BnB banners.

    As our standard of living falls ‘ownership’ will become a thing of the past. After the next economic *click* (2024 bailouts) most non-bailout people will be priced out forever. Renters don’t take the same care/pride as owners so not sure how it’ll work out.

    Around here I have seen some new for sale signs but it’s the middle winter and the market usually slows. Houses are no longer flying off the shelf.

    “We want to make perfectly clear: BlackRock is not buying individual houses in the U.S. A number of other large asset managers and private equity firms are very active today in purchasing single-family residences. BlackRock is sometimes confused with them.”

    • “We want to make perfectly clear: BlackRock is not buying individual houses in the U.S. A number of other large asset managers and private equity firms are very active today in purchasing single-family residences. BlackRock is sometimes confused with them.”

      No, what Blackrock is doing is buying the private equity firms. Blackrock swings a trillion dollar club. That’s a mighty big fly swatter to use on a $200k house…

      • What is it…. The Vatican owns Vanguard and Vanguard owns BlackRock and BlackRock owns State Street. Together they own it all.

    • the average wage around here is between 12:00 and $16 an hour most managers are small companies are making $13 an hour now where do they come up with the money to pay mortgage on a house that cost a quarter of a million dollars. plus all the regular expenses everything is gone up

  4. https://eurasiantimes.com/low-yield-nuclear-blast-over-germany-us-is-increasing-the-possibility/?amp

    hmm interesting news article comes out right about the time that NATO And the USA is giving the it’s justification to donate tanks with low yield radio active armored tanks in Ukrainian territories for Ukraine to use in their armies..
    now my question is.. will NATO and the usa come up with the that’s not fair for Russia to use low yield radio active missiles?

  5. Not here but the level of cognitive decline and lies has reached maximum capacity . Something will give in epic proportions. The rat juice veges have no rational thought process or basic intellectual skills . Good

  6. I’m so ready to be a travel the world as a rich asshole and give unsolicited advice at fancy coffee shops.

    hopefully those fellas have thet understand time better than me have that mapped out.

    please throw in a smoking hot blonde with a tiny shit dog in her purse that can inhale a golf ball through a garden hose.

    and all the congregation says,

    amen

    • Re: Fore!
      feat: The Good Place S4ep14

      Andy,

      It rather does bring to mind the “Newsweek” article for Parisien time travellers wishing to walk in the steps of the Age of Enlightenment’s Denis Diderot. One can well imagine his development of the tuning device idea with Mlle. Vollard at Palais Royal. Subsequent ruminations in the attached Café de la Régence perhaps bore fruit to his first novel “Les Bijoux Indiscrets” in 1748.

      Current day visitors, writers and artists to the gauche neighborhood of M. Didorot might wish to stop in for a sup at Les Deux Magots. It starred as a good place. Who knows if famous local resident and chair of the Bilderberg group could drop neighborhood easter eggs for the masses about the 2023 meeting.

      Cheers!

      • Re: The Frog Prince
        feat: Brothers Grimm

        Speaking of Easter eggs, today the BBC reported on the mystery of a destroyed statue in Stoke-on-Trent following road works. The Humpty Dumpty-shaped artwork honoring an 18th century Potter (not Harry) Josiah Wedgewood was reduced to a pile of bricks. Experts have been summoned and the town council has promised to “sensitively remove” the rubble.

        Interestingly Mr. Wedgewood played a role in the 1760’s Greco-Ottoman conflict that was prompted by a behind-bed-curtained Catherine, Empress of Russia. Having sent the brother of her lover to fan the flames of manly power lust for Crimea and Moldova, Catherine pored over pottery details with the wife of the British ambassador for her new palace to rise upon a former frog swamp outside St. Petersburg. In due course, the Russian representative in London relayed an order to Mr. Wedgewood for a substantial order of wares with each piece to be stamped with a frog image – the now-famous “Frog Service” is housed in museums.

        One can imagine Mr. Putin supping his soup now and looking down at that little green frog on his bowl. “All in all it’s just another brick in the wall” for Mother Russia.

    • why you want to be fellated by a tiny shit dog ? Most of the “Ufancy” homo’s go for the shaved Gerbil dipped in cocaine and tubed up into their buttholes..butthole surferz indeed.

      Ure post does make for a very funny mental picture I must admit…big muscled up dude with a tini tiny shit dog licking his unit with gusto..”thats a boy, ooohhh just like that fido dont stop, good boooy’.

      Thats a weird ass congregation – what you guys and girls watch classic movies Sinday afternoons after services ? Let me guess Deepthroat, Debbie Does the Farm, the Hole Farm, Behind the Barn Door…

  7. This piece of sheet charade we have with the fwits every month or 2 is getting pathetic . F off yah brain dead camel jockeys go back to the desert and rocks. Here come da Fed here come da fed . Broke turds

  8. 25 years I have seen these camel jockeys . Who is dead ? Greengoose ? Benshalom bernanke . Nana is still alive she is freaking out . How much is that caddy Jerome ? Wow a grand !!!!

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