May Case Chiller

From Marketwatch:

Home prices continue to slow in May, Case-Shiller says

The numbers: Home price inflation slowed further in May as the S&P CoreLogic Case-Shiller 20-city index rose 0.1% in May compared with April on a seasonally adjusted basis. On an annual basis, prices were 2.4% higher, down from a 2.5% annual rate in prior month.

That is the 14th straight month in which the annual rise in home prices has slowed and is the slowest growth rate since August 2012.

What happened: Home prices continue to rise but at a much slower pace. The 12-month change is down from 6.7% in March 2018. Seattle is now the first city “in a number of years” where prices are lower on a year-on-year basis. Las Vegas and Phoenix remain quite strong.

Big picture: Home price rises have been slowing since the beginning of 2018 and lower mortgage rates haven’t stopped the trend. Economists think that further easing of home price appreciation is needed to boost sales. Pending home sales rose 1.6% over the past 12 months, the first gain in 17 months, a trade group said Tuesday

What are they saying? “We expect housing to plateau in 2019, rather than deteriorate further. This reflects our view that home affordability should improve because of gradually rising wages and the continued pickup in employment, both of which support household incomes at a time when home prices are increasing at a more subdued rate,” said Blerina Uruci, economist at Barclays.

This entry was posted in Demographics, Economics, Employment, National Real Estate. Bookmark the permalink.

60 Responses to May Case Chiller

  1. dentss dunnigan says:

    First………..

  2. dentss dunnigan says:

    Rep. Tulsi Gabbard took aim at Sen. Kamala Harris last night and ripped her a new one over MJ ….and the audience loved it

  3. The Great Pumpkin says:

    Lol…booker won the debate. At least that’s good for jersey.

  4. The Great Pumpkin says:

    I think it’s great that the housing market didn’t hit euphoria and create a bubble. It’s literally taking a very healthy breather and letting the consumer catch up. No crazy price changes, just stability. Housing hasn’t been this normal in a very long time.

  5. 3b says:

    High prices cancel out low interest rates people are rising up
    and not paying the prices or they can’t afford to.

  6. Blue Ribbon Teacher says:

    Gabbart is the most electable of the bunch and she’s very rational on most issues. The establishment won’t ever let her get close. She’s not a hard leftist.

  7. Libturd, providing your daily dose of fukced up NJ regulations says:

    It’s Bernie or bust for the Dems. Biden will get the nomination by hiding in a cave until the convention. Trump will wreck him. Dems will once again blame Bernie. Except in the case of Bruce Springsteen entering the foray, this election is over. How stupid can the non-deplorables be?

  8. The Great Pumpkin says:

    I doubt we will ever see a housing boom like the early 2000’s. Pure anomaly based on giving away as many loans as possible to whoever had a pulse and can sign on the line.

    Housing as an asset is rock solid now. The market has no problem supporting prices in this range. Call it gold for the time being. Shouldn’t see swings, just low safe appreciation.

    3b says:
    August 1, 2019 at 9:08 am
    High prices cancel out low interest rates people are rising up
    and not paying the prices or they can’t afford to.

  9. The Great Pumpkin says:

    And as the millennials age and build wealth on the greatest economic run of our lifetime, the future is very bright long term for housing in locations like nyc metro area. 20 to 30 years, this land will be worth a lot of money as the economy will have grown significantly aka market has that much more capital to drive up assets.

  10. Bystander says:

    BRT,

    She is not even a citizen. She was born in American Samoa, never heard of it but probably a sh_thole country. Produce the birth certificate. “Send her back.”
    – Future Dumpy tweet 2020

  11. PumpkinFace says:

    In real estate news, I’m about to close on a multi-family house. Getting excited and anxious.

  12. Blue Ribbon Teacher says:

    So do you like her or not? I think she can beat Trump.

  13. Libturd, seen crazy things done with ping pong balls. says:

    In other news, Gator just shared with me the news of a high school friend of hers that is retiring from her suburban police squad after 25 years. He was hired without a degree back in 1994 after graduating in 1991. Got his Fairleigh ridiculous BA in 2009 and his masters in emergency management in 2014, just in time to retire with a full pension in 2019 at the ripe old age of 46. The two year old data has his base salary at 153K per year.
    Chances are, he worked overtime his final three years so his retirement juice will start flowing at age 60 at around 100K per year. Not bad for a 10% of salary contribution for 25 years. I just did some compounded interested calculator play and you need a minimum of 10% a year interest compounded daily to make this work. Or you can just sock it to the taxpayer.

  14. Bystander says:

    Lib,

    Did not watch even one minute of debates. There is no need bc you are fighting the Trump side where despicable behavior, insane lies, nepotism and non-intellectual policy making reign. Mostly he is strong entertainment value for uninformed masses. Tough to fight fair when he can literally say any crazy thing and the answer ‘oh, thats just Trump’. The Dems don’t have that luxury and their side gets riled by any little mistep or past mistake. You will never win that fight. You need a similar personality of Donald’s size who inspires people on both sides. It is Oprah or bust for Dems. Not joking.

  15. grim says:

    Dems getting behind a billionaire like Oprah?

    Yeah, good luck.

    They skewered Schultz and Bloomberg for being wealthy.

  16. joyce says:

    Libturd,
    I don’t believe OT is included in the pension calc’s anymore. And why would he have to wait until 60? They can collect immediately (in 99.9% of the cases).

  17. Thursday Sleepy says:

    Grim,

    Regarding Oprah, no one explains it better than Bill Maher.

    https://youtu.be/SbwxqxCzx7U

  18. Fast Eddie says:

    This will soothe all your souls:

    https://www.youtube.com/watch?v=np3FXa4ORbY

  19. Bruiser says:

    Libturd, don’t forget the separate “boat check” for miraculously never being sick in 25 years. Then it’s time for a 2nd career as a public safety consultant for another district near town, paying really good money for that 2nd pension.

  20. The Great Pumpkin says:

    Congrats and best of luck. Always get the shakes during a big deal. It’s nerve wracking.

    PumpkinFace says:
    August 1, 2019 at 10:41 am
    In real estate news, I’m about to close on a multi-family house. Getting excited and anxious

  21. Blue Ribbon Teacher says:

    Nah, it’s not the money. Hillary was filthy rich too. You have to be rich but never held a real job in the private world.

  22. The Great Pumpkin says:

    Police compensation blows. Pay them too little and they all become corrupt. It’s just too easy to throw money their way and corrupt them if they are only getting paid 70k. The pension or job isn’t worth much after this, so it would be inevitable they would become corrupt. You don’t want to give someone that much power and have them tempted by the dark side.

    At the end of the day, these cops in the safe rich towns do a hell of a job keeping out the riff raff….facts. I hate paying them, but love what they do for my town. They really do keep it safe. They also do put their life on the line every time they go out and have crappy work schedules.

    Again, I hate when I see some dumb connected jock retiring that early and getting paid that much, but it is what it is.

  23. The Great Pumpkin says:

    First paragraph—meaning you want the pension and job to act like a leash around their neck. Good boy, you want your pension?

  24. Fast Eddie says:

    Essex,

    Some subtle background sounds to go with your morning beverage of choice…

    https://www.youtube.com/watch?v=1JRJ5vz7paE&list=RDnp3FXa4ORbY&index=3

  25. PumpkinFace says:

    I’m this close to getting my senile aunt to sign the papers.

    The Great Pumpkin says:
    August 1, 2019 at 11:13 am
    Congrats and best of luck. Always get the shakes during a big deal. It’s nerve wracking.

  26. Bystander says:

    Just like Blumpy tricking Granny before real estate bubble. She was probably eating Nine Lives Cheddar Beef gravy at end.

  27. Bystander says:

    BRT,

    Out of bunch I like Mayor Pete but none of them have a shot.

  28. Bystander says:

    Neighbors drop another 15k. Now below 2014 purchase with additional 70k in improvements. Hmm, I heard RE was gold and appreciation was so sable.

  29. No One says:

    Grim,
    I think you may have overlooked the fact that Oprah is a female billionaire of color. They get special dispensation. It would be like a down payment on that one nut author’s loving-healing $500b reparations fund.

    I hardly saw any of the debate last night. I was walking by the TV and heard some creature talking about the meaning of white privilege, and kept on walking. I think she thinks white cops kill more people of color than gang members from historically disadvantaged races.

  30. The Original NJ ExPat says:

    My 15 year old daughter received her first paycheck from her Summer job last week. I overheard some conversation about her going to the bank to deposit it, I think. I just happened to ask my wife how much her check was for. Over $600! I was pretty impressed. It’s only $12 per hour, but she got paid for training too (she teaches tennis and literacy to little kids).

    Me likey self-sufficient teenagers!

  31. The Great Pumpkin says:

    Generally speaking..yes. Your example is not the norm. Most have seen appreciation since 2014.

    Bystander says:
    August 1, 2019 at 12:36 pm
    Neighbors drop another 15k. Now below 2014 purchase with additional 70k in improvements. Hmm, I heard RE was gold and appreciation was so sable.

  32. Libturd, seen crazy things done with ping pong balls. says:

    Just got Gator’s car washed after getting a brake job done (25% off with FS credit card + coupons) at Firestone and the rates have gone up $5 on every wash. The prices recently went up a few dollars a couple of months ago. I asked what was going on now that the basic wash has gone from $8 to $15 in the past 6 months. She said it’s the $15 minimum wage. She then pointed to a sign where the owner apologizes for the increases but said that he didn’t vote for it and that he is not making any more profit off of the increase and that it would be fatal to his small business if he didn’t pass the cost on to the consumer.

    I told the cashier that her business is gonna close at these prices. She said, “not before I am turned into a kiosk.” Even those benefiting from the minimum wage are against it. Crazy? Not really!

  33. The Great Pumpkin says:

    I tricked no one. Stocks were all the rage back then and real estate was that tossed away toy that made a nice comeback.

    Bystander says:
    August 1, 2019 at 12:12 pm
    Just like Blumpy tricking Granny before real estate bubble. She was probably eating Nine Lives Cheddar Beef gravy at end.

  34. The Great Pumpkin says:

    My grandmother was proud of that sale to her grandson. It kept that property in her family. Fortunate for her, she had a grandson step up and take the reins at insanely young age that really doesn’t seem believable. My friends parents think I was secretly gifted it…lmao. Wish that was true. I just wasn’t your avg teenager.

  35. The Great Pumpkin says:

    If you told me someone that couldn’t legally buy alcohol just bought an investment property…hard to believe. I was in the right place and right time, I was also smart enough to ignore the noise and buy real estate instead of stocks. Who’s laughing now.

  36. chicagofinance says:

    I saw a family over here so desperate to mine the money out of an old guy that they fcuked themselves out of $100K’s in capital gains taxes. Greedy, stupid and impatient can be expensive.

    Bystander says:
    August 1, 2019 at 12:12 pm
    Just like Blumpy tricking Granny before real estate bubble. She was probably eating Nine Lives Cheddar Beef gravy at end.

  37. chicagofinance says:

    Trump to Impose Additional 10% Tariff on Chinese Goods

  38. Libturd, seen crazy things done with ping pong balls. says:

    You would think how Trump is ruining the Chinese economy, the Chinese might decide to do something in response. Like start to raise the prices on their goods to kill ours. Stay tuned.

  39. Libturd, seen crazy things done with ping pong balls. says:

    Wow. Crude down 7.5% today.

  40. GdBlsU45 says:

    Lol. Democrat party finally figured out oblama was a failure and a fraud.

  41. Libturd, seen crazy things done with ping pong balls. says:

    No, shit for brains. In a debate where Biden is the front runner, you don’t want to compliment his tenure as VP. You related to pumps?

    How quickly you have forgotten how Trump hijacked your party that could not find it’s way out of a paper bag without him.

    So, say something intelligent or just shut the fcuk up.

  42. NancySnona says:

    Good afternoon.
    My name is Natusik.
    Looking for a guy to meet. I will come to your area or meet me. I live near.
    Profile online

  43. GdBlsU45 says:

    You might have a point…..if what they said wasn’t all true.

    Total failure on all fronts except for providing fodder to crybabies.

  44. Fast Eddie says:

    Oblammy’s legacy was established the moment he decreed a beer summit. I knew before he was elected that he was nothing more than a prop but that proclamation confirmed it. He accomplished nothing that illustrated the greatness of this country. He’s a weakling in every sense of the word.

  45. Libturd, seen crazy things done with ping pong balls. says:

    You do have to admit, Trump is breaking all kinds of records.

    Trump has had the most departures from his Cabinet than any president in 100 years. Just compare him to his five most recent predecessors: During their first two years in office, the number of Cabinet departures were:
    Ronald Reagan: 2
    George H.W. Bush: 0
    Bill Clinton: 3
    George W. Bush: 1
    Barack Obama: 0
    Donald Trump: 7!

    And just six months into his third year, he already has lost 3 more.

    And the churn in the rest of the executive branch is off the charts: 34 percent of employees in Year One and another 32 percent in Year Two. In contrast, the turnover under Obama was 9 percent and 15 percent respectively. And those percentages include only the first departure in each position, not subsequent turnover.

    That’s a feature, not a bug, of Trump’s team: There have been five communications directors, five deputy national security advisers, four deputy chiefs of staff, three chiefs of staff, three national security advisers, three press secretaries, three … oh, never mind.

    Just know that of the 65 most influential positions within the executive office of the president, 48 of them have changed hands. And 16 of those have turned over twice or more, a serial churn rate of 33 percent.

    This guy is really lousy at hiring. I know he said he was going to drain the swamp. But I didn’t realize that what he meant was that he was going to drain the swamp that he created himself.

  46. Bystander says:

    Ed,

    Beer summit? You mean the one where, in aftermath, a Boston Police officer called Gates a “j*ngle monkey” three or four times. Right..Obama was problem in that one. Weak stuff, Ed

  47. Libturd, seen crazy things done with ping pong balls. says:

    Say what you want, but Trump’s rallies creep me the f out. The last guy I remember to do this ended up biting down on a cyanide pill. We can only be as hopeful the idiot in chief ends up with the same fate.

    Honestly, at least Hitler was disgustingly brilliant. Trump? He makes fun of the special olympics for laughs. And people go out of their way to waste their time listening to him feed his ego in stadiums across the country. Dude gets more passes than Amazon has customers. I could go on, but it makes me sick to my stomach. And I don’t believe the MSNBC kool aid. F privilege and reparations. But you won’t find me rallying against it.

  48. joyce says:

    He accomplished nothing that illustrated the greatness of this country.

    Can you elaborate on this?

  49. Libturd, seen crazy things done with ping pong balls. says:

    The fact he was elected and reelected spoke volumes. Sadly, it is cheapened terribly by the fact that Trump will probably do the same.

  50. leftwing says:

    “It would be like a down payment on that one nut author’s loving-healing $500b reparations fund.”

    Great idea. If we’re going to make everyone whole, let’s make it everyone.

    That is, take the per capita number from the ‘reparations’ fund and if you are a wealthy African American subtract that from your net worth. Then write a check to the Treasury for that amount.

    Oprah would be in the billions.

    Because, you know, the whole world was biased against them forever so they had no opportunity to attain their full potential.

    Because you can’t have it both ways. Success or reparations. Not success and reparations.

    Hell, I would vote for reparations under that condition for the sheer comedy of watching the Dems rip themselves apart over that one.

  51. leftwing says:

    “Lol. Democrat party finally figured out oblama was a failure and a fraud.”

    Best thing, find the clip of Booker in his post debate CNN interview.

    He gets called out for going too far defending his record in Newark, which was challenged during the debate.

    Literally replies that he inherited an incredible mess in Newark in part because the prior three decades of administrations were ‘inept and corrupt’.

    Doesn’t even make the news…if it were the Orange One we’d have another week of screaming headlines calling him out for ‘racist’ comments.

    I have never been a fan of DJT at all but I am much more offended by broad institutional bias and if this type of bias persists I will vote for him this time. Forget the overt cheerleaders like MSNBC, Fox, etc….the MSM of record – NYT and CBS – are garbage now and a bigger threat than DJT could ever hope to be.

  52. ExEssex says:

    Ur man (potus) is running up debt.
    He’s rearranging chairs on the titanic.

    Sure it’s easy to attack anyone, but we know it’ll all be for naught.

    Friskiessss

  53. ExEssex says:

    Obama’s brand is excellent. 66 percent approval.

    Trump is busy removing his name from properties.

  54. ExEssex says:

    Sure if it were 1985 he’d move to Alpine but my guess is he’ll settle in Greenwich.

  55. Libturd, seen crazy things done with ping pong balls. says:
  56. The Great Pumpkin says:

    It never fails, even with Brady. City sucks for raising kids.

    “our sources say they have been looking at gracious homes with lots of room for their kids to play and dogs to roam.”

  57. The Great Pumpkin says:

    The Trump ad­min­is­tra­tion is mov­ing to re­strict mort­gage re­fi­nanc­ings in which bor­row­ers with­draw cash, the lat­est ef­fort to curb the fed­eral gov­ern­ment’s ex­po­sure to po­ten­tial de­faults.

    https://www.wsj.com/articles/tapping-homes-for-cash-to-get-tougher-under-new-fha-limits-11564651803?emailToken=43689029a76996ded536050c63769f0fSHRaJ/GhVSaUu0xI/9KeeqfPGo83I/MRUNicPYqqHvbS+W11+xtw7DggGwMI9rPTPtcXvq3VAFfgTcrdLDlo2/3S6eeTThJm0gKZbbcyP6Sac01tAfb4dcj04KEpN7Lu&reflink=article_copyURL_share

  58. The Great Pumpkin says:

    Cars, col­lege, houses and med­ical care have be­come steadily more costly, but in­comes have been largely stag­nant for two decades, de­spite a re­cent uptick. Fill­ing the gap be­tween earn­ing and spend­ing is an ex­plo­sion of fi­nance into nearly every cor­ner of the con-sumer econ­omy.

    https://www.wsj.com/articles/families-go-deep-in-debt-to-stay-in-the-middle-class-11564673734?emailToken=6751b425424169b6bd6b1b40abca6db1HhPkFkYTtr7Adottq3GaCH7n/qxMmOevwUZTQJu8d5itSYqkZdU5XbhjoLrZV2tSKRMndod1MD4NE9YPz61QvV7RMygiZkjTogD6Q+HeebbM9Ot6pAJ/sFvhOljFID0b&reflink=article_copyURL_share

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