March Case Shiller

From the WSJ:

U.S. Home Prices Jump as Supply Pinch Plays Out

Home prices are back to near-record highs across the U.S. amid rising demand and supply constraints, a sign that the lopsided housing-market recovery of the past five years is gaining some strength.

The S&P/Case-Shiller national home-price index, released Tuesday, has clawed its way back to within 4% of its 2006 peak, a steep rise from the near 30% decline at the bottom in 2012.

U.S. new-home sales, meanwhile, in April posted their strongest month in more than eight years, with a nearly 17% jump from a month earlier, the Commerce Department said last week.

After years of volatility, home prices have grown at a rate around 5% since early 2015. That bodes well for sellers heading into the peak home-selling season in May and June but could pose challenges for buyers, especially first-timers who may be priced out of the market as supply, particularly among starter homes, remains thin.

But the rise in prices comes amid lingering weakness in some parts of the market. Overall sales volume and new construction remain well below their pre-crisis peaks. And a broader collection of figures point to an uneven recovery that has seen a flourishing market at the high end, mainly in big U.S. cities, while the lower end lags.

“It’s a great market if you have pristine credit and lots of money,” said Sean Becketti, chief economist at Freddie Mac. “The people starting out who are looking for that first home—they’re having a tougher time.”

This entry was posted in Economics, Housing Recovery, National Real Estate. Bookmark the permalink.

60 Responses to March Case Shiller

  1. Mike says:

    Good Morning New Jersey

  2. grim says:

    Zika a postive for NJ shore tourism this year as folks stay away from cruises and trips to the islands?

  3. Amerigeddon says:

    NJ shore should also be a nice place to get away from the rioting and looting that’s coming in July and Aug.

  4. Amerigeddon says:

    James Grant: “Western central banks to the extent that they are run by people who follow the educational path of Janet Yellen, and Ben Bernanke, and Mervyn King and MIT people I think they have one view which is that gold is a curiosity, it’s like a monetary tonsil. It’s this thing of ancient standing of no immediate relevance so they can’t explain it they don’t know what to do with it.”

    “Gold however has its fans in the East and gold is moving from West to the East. When Western central banks do sell as the Bank of England did in the late 90’s, as little Venezuela did in the first quarter and is probably doing now, typically those are moments to pay attention because they’re moments of distress in the world”

    “People who hold the view that the stewards of our paper and digital currencies have the answers, that this monetary improv conducted for the past seven or eight years by the world’s Western central banks and certainly Japan, that this is the way forward. I try to understand what they’re saying but I can’t make head nor tail out of it. It seems to me the opposite is so obvious that sometimes I wonder if I’m seeing things.”

    http://www.zerohedge.com/news/2016-05-31/jim-grant-gold-isnt-hedge-against-monetary-disorder-its-investment-it

  5. Juice Box says:

    Zika anchor babies?

  6. chi says:

    Yeah….I heard something in passing…..Honduran national “vacationing” in the U.S.
    WTF?

    Juice Box says:
    June 1, 2016 at 8:22 am
    Zika anchor babies?

  7. nwnj3 says:

    The dirty little secret that the libs don’t like to talk about is that by welcoming hordes of third worlders with open arms, they are crowding out the poor who are already here from employment, social services, etc. The resources that are used to take care of that kid will have to be taken from some other indigent.

  8. The Great Pumpkin says:

    “Facing off in the South China Sea are two sides, both doing what they think they must. It’s a dangerous combination, with no room for negotiation or backing down. Expect to hear much more about this faraway stretch of ocean for years to come.”

    http://www.theweek.com/articles/626869/real-reason-china-deploying-nuclear-missile-subs

  9. D-FENS says:

    The species of mosquito known to carry the disease ( Aedes aegypti) is not found in NJ.

    http://vectorbio.rutgers.edu/outreach/mosquitospeciesdistributionsNJ.pdf

    So, head to the Jersey shore and put off that vacation to Honduras until they come up with a vaccine.

  10. D-FENS says:

    Grim…can you un-mod my comment please?

  11. chi says:

    Kindergarten Graduation (clot Edition):
    https://www.youtube.com/watch?v=01e2eLdRSek

  12. The Great Pumpkin says:

    What ever happened to him? This guy made some legendary calls.

    Amerigeddon says:
    May 31, 2016 at 10:50 pm
    BC Bob also made the calls that 3% down liar loans would come roaring back, too. Pretty sure he also said the mechanism to allow it would be the advent of ‘alternative’ credit scoring.

  13. The Great Pumpkin says:

    Immigration made a country strong at one point in history, now, not so sure it still holds true. Now it just puts more strain on the lower classes like you allude to. Not enough jobs as is, so what purpose does immigration fill besides making more people fight over the left over crumbs?

    H1 visas, they just hoard the money, live bare minimum in an overpopulated apartment, and send all the money back to India. How is this type of immigration good for America?

    Wtf is wrong with the corporate big boys? How do they not see this practice as destructive? How do they not see the off-shoring of our businesses as destructive? Just give all the technology secrets away in exchange for cheap labor. This boils my fuc!ing blood. You can’t trust these people.

    nwnj3 says:
    June 1, 2016 at 8:29 am
    The dirty little secret that the libs don’t like to talk about is that by welcoming hordes of third worlders with open arms, they are crowding out the poor who are already here from employment, social services, etc. The resources that are used to take care of that kid will have to be taken from some other indigent

  14. nwnj3 says:

    #9

    That article was written with a propagandist hand, it’s so rife with misinformation. They have no choice but to censor the comments after publishing it.

  15. The Great Pumpkin says:

    9-

    This is just great, the mother picked up the virus in Honduras and was “on vacation” in the US when her baby was born.

    Sounds like birth right tourism to me and now the US Taxpayers will have to foot the enormous hospital bill and then pay monthly SSI benefits along with a whole host of other things.

    They say the mother showed symptoms soon after arriving in the US, since first trimester infections are believed to cause the defect how long was she here? 6 months?”

    “Great, another foreigner dropped anchor-baby.

    Now we get to pay for both of them for the next 18 years. That’s OK, though; I don’t need the money that I work 80+ hours a week for. It’s not like my daughters need that money for college, when it could go to supporting the migratory biological weapons spreading Third World diseases.”

    http://www.survivalistboards.com/showthread.php?t=513985

  16. Ottoman says:

    Sounds like payback for the US interfering with the Honduran elections which led to the current military coup that supports the corporate r@pe of their environment and the lawless roving gangs terrorizing and murdering the Honduran citizens. Berta Carceres was murdered thanks to American corporations attempts to steal protected Honduran lands, But of course, only (certain) American lives matter to fvck wits like you.

    “Sounds like birth right tourism to me and now the US Taxpayers will have to foot the enormous hospital bill and then pay monthly SSI benefits along with a whole host of other things.”

    They say the mother showed symptoms soon after arriving in the US, since first trimester infections are believed to cause the defect how long was she here? 6 months?”

    “Great, another foreigner dropped anchor-baby.

    Now we get to pay for both of them for the next 18 years. That’s OK, though; I don’t need the money that I work 80+ hours a week for. It’s not like my daughters need that money for college, when it could go to supporting the migratory biological weapons spreading Third World diseases.”

  17. Juice Box says:

    Pumps it was well played by the mother and grandmother. The only time the parent of an anchor baby isn’t deported is when the court agrees to humanitarian parole, a rare legal exceptions for children who are so seriously ill or profoundly disabled that one parent must care for them full-time.

  18. Juice Box says:

    However even if the mother is deported the anchor baby may still remain behind. A study in 2011 showed there were 5,000 children in state custody or foster care because their parents had been deported.

  19. Hillary's Cankles are ground zero for Zika virus says:

    Otto. I’m sure the Honduran government would welcome you with open hands.

  20. joyce says:

    Gov/Corp abuse people in one country and the payback is to have the Gov/Corp abuse more people in a different country? Shouldn’t “payback” include getting back at the abusers? I’ve always considered redefining words in an attempt to make a point that hallmark of fvck wits.

    Ottoman says:
    June 1, 2016 at 9:41 am
    Sounds like payback for the US interfering with the Honduran elections which led to the current military coup that supports the corporate r@pe of their environment and the lawless roving gangs terrorizing and murdering the Honduran citizens. Berta Carceres was murdered thanks to American corporations attempts to steal protected Honduran lands, But of course, only (certain) American lives matter to fvck wits like you.

  21. Fast Eddie says:

    Ottoman,

    Please tell us what you’ve done to assist in the benefit of your fellow man? How much time and money have you sacrificed and invested in the past 12 months? Please outline and enlighten us. I ask because my experience has shown me that the biggest so-called progressives and bleeding hearts rooting for the common man are those who harbor personal disappointment and resentment. In essence, they’re personally sacrificing nothing while asking others to fight the fight for them.

  22. GOP's broken (the good one) says:

    I’ll take the Wars in Iraq for 100, Alex

    The Great Pumpkin says:
    June 1, 2016 at 8:58 am

    …it just puts more strain on the lower classes

  23. GOP's broken (the good one) says:

    I’ll take Trump supporters for 200, Alex

    Fast Eddie says:
    June 1, 2016 at 10:20 am

    …those who harbor personal disappointment and resentment. In essence, they’re personally sacrificing nothing while asking others to fight the fight for them.

  24. GOP's broken (the good one) says:

    @vicenews

    Businessman who paid to be a cop is headed to prison for shooting an unarmed black man

  25. Not GOPer says:

    Alex, for $500 I’ll take,

    Why rich old dudes should spend their monies at the str!p club and fund someone hotties college education?

    @vicenews

    Businessman who paid to be a cop is headed to prison for shooting an unarmed black man

  26. Juice Box says:

    Let get the Blue jackets on FBI. Time to bust Crooked Hillary.

    There are at least 8 laws that were broken.

    1.) 18 U.S. Code § 793 – Gathering, transmitting or losing defense information
    18 U.S. Code § 798 – Disclosure of classified information
    2.) U.S. Code § 1924 – Unauthorized removal and retention of classified documents or material
    3.) 18 U.S. Code § 2071(b) — Concealment, removal, or mutilation generally

    4.) 18 U.S. Code § 641 – Public money, property or records

    5.) 18 U.S. Code § 1505 – Obstruction of proceedings before departments, agencies, and committees

    6.) 18 U.S. Code § 1519 — Destruction, alteration, or falsification of records in federal investigations
    7.) 18 U.S. Code § 1031 — Fraud against the United States
    18 U.S. Code § 1343 – Fraud by wire, radio or television
    18 U.S. Code § 1346 — Definition of “scheme or artifice to defraud”
    18 U.S. Code § 371 – Conspiracy to defraud the United States

    8.) 18 U.S. Code § 371 – Conspiracy to commit a federal offense

  27. Hillary's Cankles are ground zero for Zika virus says:

    When does the statute of limitations run out on blaming everything on the Bush family? For sh1t-for-brains who can’t think for themselves, the answer is apparently never. I’m surprised Anon is not all up in George Washington’s Grill for owning slaves and destroying the Iroquois Nation.

  28. joyce says:

    27
    We’re lucky he paid his way into being a cop and wasn’t a real cop … cause he would have walked, easily.

    28
    We can dream.

  29. Hillary's Cankles are ground zero for Zika virus says:

    The FBI won’t be busting on HER anytime soon. But the likes of Anon and Otto see nothing wrong with HER deleting an entire server (unrecoverable deletion btw) when under investigation. Sending classified information through a private server. Or even having a private server with next to zero security paid for and installed by a major donor. And this is who they want to be the next POTUS.

  30. Essex says:

    7. yeah cause once Trump is elected EVERYthing is going to change….

  31. lurker says:

    8 @Essex speaking of the general, let’s have an informal poll (I know the board slants right) on who we think wins in Nov… not who we support (it better be Gary out of the 3, 4 if you include French whoever he is lol)

    I say Hillary, Dems structural advantage in the EC plus demographics favor them and will be too much for Trump to err trump. But he will go down swinging and as we’ve seen already he will do and say anything and bring up whatever dirt exists on Hillary and/or Bubba! Still I think she wins going away and with > 300 EVs

  32. lurker says:

    ^ supposed to say 32 not 8

  33. Essex says:

    I honestly don’t care who wins. But I fund each side’s more rapid supporters to be hysterical.

  34. Essex says:

    oops…make that find and rabid

  35. Hillary's Cankles are ground zero for Zika virus says:

    I hate both of them. Then again, I recently saw Terry Fator perform with Gator Jr. and he even thought it was horribly stupid. But the crowd ate it up. Standing ovations were even given. The masses are truly asses. Smack my ass and call me an elitist.

  36. Hillary's Cankles are ground zero for Zika virus says:

    At this point, I am seriously contemplating the entertainment value of Trump over the corruption of Cankles.

  37. Comrade Nom Deplume, screwing around at work says:

    Why devote energy to replying to vermin like Otto? Really, its counterproductive–that mental energy (admitted, it isn’t much) could be spent on better pursuits.

    Besides, it’s more fun to hunt, trap and kill vermin.

  38. Comrade Nom Deplume, screwing around at work says:

    [35] essex

    Clot and I are going to hand out firearms at Trump demonstrations

    On both sides.

  39. Comrade Nom Deplume, screwing around at work says:

    Another ACA success story:

    “State to seize control of Ohio insurance co-op

    InHealth Mutual, the struggling health insurance co-op that provides coverage to nearly 22,000 Ohioans, has been taken over by the state. According to the Ohio Department of Insurance, the co-op doesn’t have enough money to cover claims and stay in business, The Columbus Dispatch reported.

    “Our examination of the company’s financials made it clear that the company’s losses would prevent it from paying future claims should its operations continue,” said Lt. Gov. Mary Taylor (R), who also serves as director of the Ohio Department of Insurance, according to the report. Franklin County Common Pleas Judge Kim Brown approved the department’s request to liquidate the co-op, which will in turn transfer authority to the state of Ohio to handle claims while it gradually closes down the company’s operations, according to the report.

    Policyholders must still pay their premiums under the order, and providers must continue to honor their contract for service. The state has advised policyholders who want to keep their premium tax credits under the Affordable Care Act to visit the federal insurance exchange within the next 60 days to find a replacement plan, according to the report.

    The federal government ramped up oversight over the co-op last fall after it reported a $9.1 million loss for the first six months of fiscal year 2015, according to the report. 2016 Global Data Point.

  40. Hillary's Cankles are ground zero for Zika virus says:

    Firearms at Clinton demonstrations would be useless without cankle piercing bullets.

  41. Comrade Nom Deplume, screwing around at work says:

    [42] Cankles

    there’s a reason that there are no right wingers protesting at Hillary events.

    They’re at work.

  42. D-FENS says:

    Jersey is in play for the general. When was the last time that happened?

    http://www.thegatewaypundit.com/2016/05/breaking-poll/

  43. Fast Eddie says:

    GOP’s broken (the good one) [25],

    Hey f.uck face, I can’t tell you the amount of money and time my family gave to poor inner-city kids. Until you know the real story, shut the f.uck up.

  44. lurker says:

    44 @D-FENS

    Let’s be honest, the Jersey in play story is about as accurate as AZ/GA in play for Dems… nice summertime story, but we all know it ain’t happening

  45. D-FENS says:

    It doesn’t count if the kid had a revolver pointed at your face.

    Fast Eddie says:
    June 1, 2016 at 12:16 pm
    GOP’s broken (the good one) [25],

    Hey f.uck face, I can’t tell you the amount of money and time my family gave to poor inner-city kids. Until you know the real story, shut the f.uck up.

  46. Not anyone today says:

    Informal poll

    Would like Bernie, will vote for Trump. When confronted by 2 evils I like to try the one I had not tried before.

    Other reason for him is simple. By Trump winning, he would have completed the present GOP destruction and promotion of a new GOP that is more people centered and less corporate and ideologically driven. By Trump winning, he will have permanently phazered the Clintons to that political dimension where the Bush presently reside. Allowing the Democratic party to be truer to its roots, and just like the GOP more people centered and less corporate and ideologically driven.

    If the Clinton Incubus wins. Then progress is retarded again another 4 yrs. Anger will build up again. As meaningful change that touches J6P goes ignored again. More anger, more violence, more BS, and everyone knows she wont accomplish much, because she wont have time to sell out to anyone or anything because she’ll be in the defensive from day 1.

  47. The Great Pumpkin says:

    Bring up some interesting points.

    I’m most likely voting for Trump, or not voting at all. Wish Bernie was able to take down the clinton machine.

    Not anyone today says:
    June 1, 2016 at 1:51 pm
    Informal poll

    Would like Bernie, will vote for Trump. When confronted by 2 evils I like to try the one I had not tried before.

    Other reason for him is simple. By Trump winning, he would have completed the present GOP destruction and promotion of a new GOP that is more people centered and less corporate and ideologically driven. By Trump winning, he will have permanently phazered the Clintons to that political dimension where the Bush presently reside. Allowing the Democratic party to be truer to its roots, and just like the GOP more people centered and less corporate and ideologically driven.

    If the Clinton Incubus wins. Then progress is retarded again another 4 yrs. Anger will build up again. As meaningful change that touches J6P goes ignored again. More anger, more violence, more BS, and everyone knows she wont accomplish much, because she wont have time to sell out to anyone or anything because she’ll be in the defensive from day 1.

  48. Morris says:

    Wow I’m shocked

  49. chicagofinance says:

    Cooking up a scheme with Tina Fey’s Liz Lemon on a 2008 episode of “30 Rock,” Alec Baldwin’s Jack Donaghy says, “We might not be the best people.” She chimes, “But we’re not the worst.” Then both of them say, in tandem, “Graduate students are the worst.”

    Graduate students develop, or metastasize, into college professors — the kinds of college professors who, at Northwestern University, more or less quashed the appointment of a retired three-star Army general for being too American, or something.

    Gen. Karl Eikenberry was tapped by the university to lead its new Buffett Institute for Global Studies, a position he seemed easily to have earned by having actual knowledge of the globe.

    Eikenberry was ambassador to Afghanistan. He was deputy chairman of the NATO Military Committee in Brussels. He has lived in Hong Kong, China and South Korea, and taught in Rwanda.

    Yet faculty and grad students led a revolt against the appointment, assuming that being a military man automatically meant Eikenberry was a warmonger (actually, he has expressed deep misgivings, while serving as ambassador from 2009 to 2011, about the extended nature of President Obama’s military adventure in Afghanistan: Would President Obama be denied a Northwestern appointment for being too militaristic?). They also sniped that, having served the US overseas, Eikenberry might actually think in terms of US interests, and we can’t have that.

    A graduate student named Charles Clarke supported a petition to block the appointment of Eikenberry with these words: “An ex-US general will likely think about international politics in terms of war and from the perspective of the US’s interests, and the research agenda will be negatively skewed as a result. Instead, why not appoint someone who will encourage research that is less belligerent and tainted by US bias?”

    “As faculty who are deeply committed to academic integrity,” chimed in 46 faculty members in a letter, “we believe that it would be irresponsible to remain silent while the University’s core mission of independent research and teaching becomes identified with US military and foreign policy.”

    Obama doesn’t have a Ph.D., either: How many universities will be scrambling to offer him a gig next year?
    Amid the hostile climate, Eikenberry, who had bought a house near the Northwestern campus, withdrew.

    Eikenberry does not have a Ph.D., which some professors declared to be disqualifying. But Eikenberry’s position wasn’t to be academic: It was an executive and management one. He wasn’t expected to spend his time producing obscure papers on microtopics for publication in unread journals. He no more needed a Ph.D. to run a global studies institute than you need to have a Ph.D. in government to lead the United States of America. (Note that Obama doesn’t have a Ph.D., either: How many universities will be scrambling to offer him a gig next year?)

    Northwestern effectively blackballed someone for being perceived as pro-military and pro-US (ah, now I think I understand why hiring Obama wouldn’t be an issue for Northwestern).

    Northwesterners are upset that their academic mission would have been indirectly tainted by association with someone who formerly worked for the Amerikkkan military.

    So why on Earth do they allow their research to be directly tainted by the same source?

    Northwestern, like virtually every other university, receives millions in federal funding. If the profs and grad students genuinely think “US interests” are pernicious, they should either renounce all federal funding or move to some other place that isn’t soiled and poisoned by US dollars. At the Central University of Venezuela, for instance, these academics could sleep with a conscience shorn of any connection to what President Eisenhower so prophetically termed the military-industrial complex — a few years after serving as president of Columbia University without a Ph.D.

    No, the Northwestern professoriate, and universities in general, aren’t going to stop taking dollars from the US. They’re just going to continue to mistake dogmatism, prejudice and closed-mindedness for academic ideals. Which is why, back here in America, and even over at “30 Rock,” academics have become a joke.

  50. 1987 Condo says:

    #51..Eikenberry gave the Commencement address for my son’s graduation from NC State last December. It was a great address! He is very impressive and received a standing ovation, of course, as did the ROTC grads.

  51. joyce says:

    51
    “…might actually think in terms of US interests,”

    Are these interests abroad?

  52. 1987 Condo says:

    Speaking of Eikenberry, this is what he is about….

    “The Goldsboro, North Carolina, native — who is affiliated with Stanford’s centers for international security, Europe, and democratic, sustainable development — is a champion of humanities and social sciences. He served on a commission that produced The Heart of the Matter, a report written at the request of a bipartisan congressional committee that detailed both the neglect of humanities and social sciences, and their essential importance.”

  53. Essex says:

    meh…Dyke Stadium sux.

  54. Amerigeddon says:

    plume (40)-

    I’ll bring a bucket of Negronis and binoculars for us, too.

    “Clot and I are going to hand out firearms at Trump demonstrations

    On both sides.”

  55. Amerigeddon says:

    chi (51)-

    The shit they cram into these little fcuktards’ heads is just mind-blowing. It’s like these douchenozzles never took HS Amerikan History. Anyone with a brain larger than a zika victim’s knows that former US military leaders are often the most pacifistic and least willing to go to war once their service has ended (see: Dwight Eisenhower, “military-industrial complex” speech).

    When the student loan bubble finally bursts, the fallout will be cataclysmic. And, the professors and students who promulgate lies wrapped in the veneer of truth will be where they belong: collecting garbage and learning how to weld.

  56. Amerigeddon says:

    No big whoop, but some people…somewhere…are working overtime suppressing the prices of gold and silver.

  57. chicagofinance says:

    NC (clot Edition):

    A North Carolina woman made a chilling discovery after buying a deep freezer for $30 at a yard sale – and discovering human remains inside.

    “My heart was in my throat and I ran outside, called 911,” said the unidentified Goldsboro woman, who bought the bargain freezer from her neighbor three weeks earlier, WNCN reported.

    The woman said she believed the remains are those of her neighbor’s mother, who had not been seen since September.

    “She sold me her frozen mother for $30. How do you do something like that?” the woman said.

    “(She was) just the sweetest lady. I mean quiet, kept to herself, stayed at home. Just unbelievable how she could just stick her mom in a freezer,” she added.

    The woman said she waited three weeks to open the freezer because her neighbor told her it was being used as a “time capsule” — part of a class project she was doing with her church Sunday School class.

    “A church was supposed to come, pick up the items inside the freezer. I was supposed to get the freezer back. The church never came. I decided to open it,” the buyer said.

    The woman said her neighbor told her she was leaving town the day after the sale to be with her mom at a nursing home.

    The remains were sent to the North Carolina Medical Examiner’s Office for further identification.

  58. Comrade Nom Deplume. Citizen, 2nd Class. says:

    I find this a bit hard to believe:

    “But as bad as things are in the Land of Lincoln, three other states are in worse fiscal shape, according to an analysis released Thursday by the Mercatus Center at George Mason University.

    Connecticut, Massachusetts and New Jersey are coping with even bigger problems thanks to large accumulated debts, underfunded pensions and looming deficits, among other measures of fiscal health, the researchers found in an analysis of the latest state financial statements available.”

    I feel sorry for Charlie Baker; he will get tagged for Deval Patrick’s mess. Just as the Fat Man is getting it for McSleezy and Corslime.

    As I said when Christie Creme was running:we are having an election. Loser gets to be governor

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