Rearview Mirror: Housing

by

I guess today’s Housing report matters, to the degree you can drive by looking in the rearview mirror.  We’d mentioned before that it seems like a slow topping process was ongoing as net-to-seller due to higher interest rates was coming home to land on the mini-bubble:

S&P CORELOGIC CASE-SHILLER INDEX DECLINES
MODERATED IN FEBRUARY

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 2.0% annual gain in February, down from 3.7% in the previous month. The 10-City Composite annual increase came in at 0.4%, down from 2.5% in the previous month.

The 20-City Composite posted a 0.4% year-over-year gain, down from 2.6% in the previous month.

Miami, Tampa, and Atlanta again reported the highest year-over-year gains among the 20 cities in February. The order remained the same with Miami leading the way with a 10.8% year-over-year price
increase, followed by Tampa in second with a 7.7% increase, and Atlanta in third with a 6.6% increase. All 20 cities reported lower prices in the year ending February 2023 versus the year ending January 2023.”

From here we’re thinking another 1/4 t0 1/2 hike by the Fed in a couple of weeks. A kind of maraschino on top of housing for a while. Then we wait for the Recession to show up.

More in this morning’s main column here.

Ure

25 thoughts on “Rearview Mirror: Housing”

      • or maybe one if those tsunamis using the nato approved radio active materials.
        the last time when they had said certain radioactive materials were considered acceptable to use that…there was a news story where Russia mentioned so it’s OK if we exploded shells above Germany with the nato approved radioactive materials..
        time will tell ..this is only one more instance of crossing one of russias red lines..

      • https://avia-pro.net/news/vsu-nachali-ispolzovat-aviabomby-jdam-v-artyomovske

        Hmm.. see a possibility of cable televsion being taken off the air with that one to..
        radio active shells in one of the largest and most important grain production area’s on the planet that would affect the food supply for hundreds of millions of people around the globe .. and using satellite guidance for shells hitting their intended targets with them.. my.. what could go wrong with this plan of action.. and since it to is another red line.. how many red lines does everyone cross before it escalates.. the other thing is what good is ukraine if they turn it into a radioactive wasteland that is unfit to live in..
        from my perspective this is probably one of the scariest news days of the year.. only time will tell us which direction this will turn..

  2. George,

    Re: Crypto’s … concur …

    Using DAX and CAC, nonlinear equity valuatiuon collapse could be faster than 20-22 trading days.

    • At least one reader who is mobile and hovering near the Canadian border has been talking international ’til things settle out. Will there be any place to run to and hide?

      • … “Run and hide?”. *anguished emoji*
        I guess you wouldn’t have the cajones to sign the DOI I left links to in today’s post’s comments section?

        • Nope. I avoid nationalists, partisan CI’s and all form of partisan operatives these days. Never came across one with my interests at heart, regardless of spin. I regard this as a balls vs brains IQ test, and apparently Stiks and myself got the two passing grades.
          With regard to the “run and hide” question, I am dubious of the safety of expat arrangements, but I see so much talk of it, I thought I would solicit an opinion from an economic source who seems to understand what is going on, and I believe isn’t on the lam like many of the practicing Expat advocates.

        • I haven’t been hearing much good about what’s happening on South America’s Left coast lately either. Peru is having its problems. Ecuador? Love the food but we can cook it here, too.

          But, you can run and you can hide and try to blend in but in the end staying in the middle of the road just gets a yellow strip painted up your back with a tire tread squashing you flat. Gotta believe in something, something good or what we’re headed for will eat you alive. Future generations will appreciate you … or not.

      • I live’em one day at a time, Bill. Not everyone who disagrees is an enemy, and public displays of bravado won’t slow down a real one for an instant. Have a good evening.

        • Hiding in the background when you could have – and should have – done something doesn’t make you morally superior either. It just means you’re … well, my dear, dear friend. You get the idea.

    • On Feb. 22, 1943 Sophie Scholl (https://www.nationalww2museum.org/war/articles/sophie-scholl-and-white-rose) was beheaded for trying to tell the truth about her own country that was doing all it could to keep the truth from its citizens – as if they had a vote at that point in time. We don’t either at this point in our history. Do you care? Don’t have time to find links to the movie that was made about her on YT but I’m sure you could find it if you cared to. If you do and have any questions about it I’m sure there are those that would fall all over themselves to give insight and probably background to the events in that movie. Remember what is said about those who don’t remember their history!

      So many of your sources wish the same fate for those you’ve shown hatred for here and, I assume, your feelings follow theirs. I really don’t know how old you are as I’ve given up trying to guess the age of ardent Leftist liberals. They run the gamut of all ages but all sound about the same age to me – somewhere around 16 or at least a pre-graduate of any mind-altering college out there. You have yet to show any interest in comparing thoughts and facts with what tends to be the majority opinion here which is – perhaps you’ll get it some day – a mark of maturity. I may run rough shod with an Abrams tank over certain people here but at least we discuss … most of the time. I’m passionate about the country I remember and have little patience for those who are afraid to think outside their little cliques – and have ZERO patience for those who can and have taken part in tearing it down.

        • Hey! That looks interesting. I’ll look for it and see if the wife would like it. We’ve finished just about everything out there until “Yellowstone” and “1923” come back with new episodes. It’s rare that the two of us watch something together. We’ve recently found “Ghosts” with the girl from “I, Zombie” in it. Got a few chuckles out of it so far.

      • Bill, I am 65+ yrs old.

        Sorry that facts about Trump trigger your meltdown.

        Look in the mirror, Trump made his own fate.

        • Like I said, doesn’t surprise me. The first time I heard someone advocate for a fully opened border was from a woman about your age at one of those Socrates meetings back in the late 90s, early 2000s. I couldn’t believe it but she had nothing to say once I pointed out that our exclusive borders help guarantee our way of life. Now that we don’t have exclusive borders we’re seeing how bad it CAN get and it’s easy to see how bad it WILL get and that’s just the start of how feel-good politics of the 60s radicals, which you must have been a part of, will destroy everything we’ve worked and bled for. Sorry you can’t distill it down to ideas and discuss things but rather revert to your 16 year old mind and hurl names all over the place.

        • Oh, and for some reason they took that Business Insider article down. All they have to do is lie once and the idea is out there. But Tucker told the truth about Jan. 6th and now THE TRUTH is out there much to Chuckie’s chagrin. I look forward to Tucker’s next gig.

        • Just another way your party takes our country down:

          Democrats Float Bill To Allow LGBTQ Migrants To Walk Into US Unrestricted
          https://www.zerohedge.com/political/democrats-float-bill-allow-lgbtq-migrants-walk-us-unrestricted

          “Democrats in the House and the Senate have floated legislation that would allow undocumented migrants to effectively walk into the U.S. unrestricted if they declare they are LGBTQ+, prompting border officials to warn that suddenly “everyone is going to be LGBTQ.””

    • she said no one else was paying,,, in a deposition!
      why should anyone believe her?
      fool me once,,, shame on you
      fool me twice,, hell no! she is a lying sick bitch
      “Earlier this month it was revealed billionaire LinkedIn founder Reid Hoffman – a Democrat megadonor – is secretly funding E. Jean Carroll’s rape case against President Trump.

      This DIRECTLY contradicts E. Jean Carroll’s claim during an October deposition that no one else was paying her legal bills.”
      https://www.thegatewaypundit.com/2023/04/clinton-appointed-judge-blasts-trump-as-e-jean-carroll-testifies-former-president-raped-her/

      where is her “monica” dress? she claimed to have with the dna on it. Well, where is it? If the demons had it, they would be blasting it out on the airwaves, non-stop. All they got is ‘talk’ bla bla bla.
      They are scared to death of Trump’s coming back into power of the office.

      couldn’t care less about the work place problems @ FOX. Work place problems are rampant in TV land, even the skanks in your movie did their time on a casting couch. Got paid well via acting careers.

      Tucker WON,,, by telling Truth, he kept telling the Truth till he forced FOX to fire him to stop the Truth telling. Firing him only makes him stronger, brought him more positive attention. I AM not one bit saddened by his termination, rather I rejoice in it. It is a shining spot light.
      FOX lost.
      Zippity do dah, Zippity aye
      He will do fine, where ever he settles, truth lovers will follow.

      Poor liddle don le’mon got the boot because no one liked him. A true piece of human shit, No viewership, he stank and was demeaning to the women he worked with. He though it was ok cause he is a liddle faggot

      Oh Well ,,, back to the climate change scam ,,,

Comments are closed.