From HousingWire:
Black Knight: June home prices rose 0.9% from May
Home prices rose 0.9% in June from May and 5.1% since June 2014, according to the new home price report from Black Knight Financial Services.
The Black Knight HPI combines the company’s extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes.
This puts national home prices up 4.9% since the start of the year and up over 26% since the bottom of the market at the start of 2012.
At $252,000, the national level HPI is now just 5.8% off its June 2006 peak of $268,000.
…
Of the nation’s 40 largest metros, 13 hit new peaks in June:Austin, TX ($282K)
Boston, MA ($406K)
Columbus, OH ($185K)
Dallas, TX ($215K)
Denver, CO ($323K)
Houston, TX ($218K)
Kansas City, MO ($173K)
Nashville, TN ($217K)
Pittsburgh, PA ($187K)
Portland OR ($310K)
San Antonio, TX ($193K)
San Francisco, CA ($715K)
San Jose, CA ($862K)
Good Morning New Jersey
Shanghai down 8.5% last night. Lookout below.
Shiny, happy people…
I’m getting that tingly, 2008 feeling all over again.
“the national level HPI is now just 5.8% off its June 2006 peak ”
No cognitive dissonance here…LOL. Collapsing commodities, market correction, ZIRP, SFH starts dead in tracks, and lukewarm labor markets – or – party like it’s 2006, woohoo!
Somebody’s wrong. Bets?
Yeah rate cut, LOL.
Somebody’s wrong. Bets?
So are you saying the NJ market, which is still down near 20%, is a more rational market?
I blame China for overreacting. President Trump needs to send Ambassador Greenspan over there to show them how it’s done.
I’m watching the spread between the cheerleaders and the stats. If I remember one thing from 2008-09 it was how absolutely hard the MSM sold the Animal House “remain calm, all is well” line as everything was hitting the fan. Especially outlets which one would expect to be more objective, eg CNBC.
*The more they tell me everything is fine despite mounting objective evidence to the contrary the bigger the sell signal.* Random starting point from some prior random ending point (up 20% from here, down 10% from there) is much less relevant to me. Today’s market is a new day, and you have three choices. Buy, sell, or hold. For any asset.
Cheerleader to stat spread. Bank it.
https://www.youtube.com/watch?v=zDAmPIq29ro
@BernieSanders:
Most of the major Wall Street institutions that we bailed out because they were “too big to fail” are now bigger than they used to be.
@Reddy:
U.S. renters are paying 30.2% of their income on rent, the highest share on record
I thought Eddie finally buying looked like a tell of a market top, looks like that’s the case.
@pdacosta: K falls off 401s.
while the world is falling apart….
@washingtonpost: Ted Cruz to help lead pastor-based effort to mobilize churchgoers to end taxpayer support for Planned Parenthood
11. hillarious……..(Hillary Joke)
Let it all burn…..
I am buying more today. When Macys has a sale on suits and you buy one and the next week there is a two for one sale you buy more.
I like GE, AlphaClone, Baby Berkshire, and Apple today But waiting till 9:35 am to put limit buy orders in.
Someone who has no stocks, is about to refinance a mortgage and has oil heat is doing a jig today.
juice (5)-
Deflationary credit collapses are the most decisive rate cuts of all.
“Yeah rate cut, LOL.”
CNBC is about ratings not reporting news……they are the Weather Channel for stocks…..it wouldn’t surprise me if they start naming storms/stock routes in the same way for effect. It is the same company.
leftwing says:
August 24, 2015 at 7:45 am
I’m watching the spread between the cheerleaders and the stats. If I remember one thing from 2008-09 it was how absolutely hard the MSM sold the Animal House “remain calm, all is well” line as everything was hitting the fan. Especially outlets which one would expect to be more objective, eg CNBC.
Anyone who wants to get a big hoo-hah should tune into CNBC right now and watch these idiot dinosaurs trotting out the same bullshit they spewed in 2008.
Frankly, this is the beginning of the total financial annihilation I’ve been so hopefully looking forward to.
No one will be spared. No one.
@zerohedge: the Nasdaq is now a pennystock
hehateme…Apple?
Apple’s growth is dependent on China. Maybe when the Shanghai index drops to 2K would I buy Apple. Plus, not until NEXT September for iPhone 7.
Becky Quick still looks like my college GF. She must have an excellent health regimen.
Up in the PRI last week, chi. Commons is finally finished, so all the bums were staking out permanent spots.
This blonde ginch with too much makeup has to go.
No way those hubcaps are real.
anon (23)-
Much like the sum value of your intellectual output.
“@zerohedge: the Nasdaq is now a pennystock”
Hope gary didn’t have his downpayment in AAPL.
@daveweigel:
Conservatives in my feed are talking about the stock market, so I assume it’s looking bad
Anon…
You better hope this market break is temporary. Or you may have 4 more years to make fun of Trump.
Housing bubble II and another market crash? Break out the Sparks, the best years of my life have returned!
All the non-retirement assets are parked in munis anyway. Let it rip.
**sips daqiuiri, puffs swisher, reloads Yahoo Finance six times in eleven seconds**
New Apple Phone has a Glitch. In China it keeps winging the wong number.
I have a lot in munis too. Next few days may be a cyclical moment to move some Long Term munis to div paying blue chips on sale.
I have a decent amount of 30 year munis.
And we thought Puerto rico was the problem. Turns out it was Apple and Netflix
My club used to be in both of them. Smartly, haven’t been in either for over a year.
Hope gary didn’t have his downpayment in AAPL.
I’m slightly smarter than the average muppet. ;) My only regret is that I can’t make any major financial moves before my sell and buy closings because of my mortgage lock. Another couple of panic days in the market and I would be buying. My purchase price was at a level that obviously was acceptable to me and actually, I got over asking price for my house and I was a little aggressive on the ask to begin with. Let the markets do as they please, I’m liquid and don’t even have to look at my assets.
Wow…nice open.
Dow down 978 pts.
Gary…looking at the open…you should be happy you bought a house? Where is the great Blumpkin. Would love to hear his unbounded optimism today. Maybe not.
Over under on suicidal traders?
TNX at 1.95 all of a sudden. Gary…do you have a floating lock? :P
I predict Pumpy has gone underground for the duration of this sell off.
OTOH, PHYS killing it out of the starting gate…
Shiny, bitchez!!! Your only hedge against the paper race to the bottom.
Amazing that CNBC still pumps Cramer full of Adder@all and sticks him in front of a camera, thinking it will soothe everyone at times like this.
Funniest thing I ever saw related to Cramer…
I had to get my car inspected by Geico when changing insurance carriers to them. The guy performing the inspection was taking forever to come out of his office to do my car, which really takes about 45 seconds. I asked him what the hold up was. He said he was making a ton of money by jumping on Cramer’s picks the moment he made them on his show and selling them 5 minutes later. But he said you had to be lightning quick. I told him to be lightning quick with my car! He wasn’t laughing. Moron!
Dang I had limit buys in on stuff and most missed. I had Apple at 90 and hit a low of 92 and bounced back to 102.
Only hit was Verzon I bought while down over 1,000 on Dow.
Wait for the end of the day. I doubt this route is over. Not with China down nearly 9% last night.
Or at worst, tomorrow morning.
> I have a lot in munis too. Next few days may be a cyclical moment to move some Long Term munis to div paying blue chips on sale.
Yeah, a couple weeks ago I was eager to scoop up SPY when the index was at 2050 so it’d be hypocritical of me not to buy more now. Time to pick out some nice losses to harvest.
Lib,
Gary…looking at the open…you should be happy you bought a house?
Good or bad? lol! Doesn’t matter. I’m in it for the long run.
Gary…do you have a floating lock?
Nope. But I betcha a get a lower rate before my closing.
Fast Eddie says:
August 24, 2015 at 10:00 am
Gary…do you have a floating cock?
Nope. But I betcha I get a longer one before my closing.
Clot [44];
Shiny, bitchez!!! Your only hedge against the paper race to the bottom.
Gold is down ~33% off 2012 highs; and has roughly doubled in price over the last 10 years, or ~7% compound return before inflation. That’s about equal to the return of the SP500 over the same decade.
And that’s probably gold’s best decade ever in the modern era.
Look at real estate or stocks or 30 years treasuries over last 30 years vs Gold.
You could do worse than shiny and invest in PLUG.
Cashed out earlier this year. Paid off both cars and all debt. Feel light and airy.
Now just sit tight and wait until next january.
Can’t believe this market might finish flat. Somethings broken.
Well, besides my English.
The way media breathlessly report upon every new button added to iPhone, one would be shocked to learn that Andoid phones make up over 80% of the market, and growing.
I don’t understand the lemming-like behavior from Apple consumers, and their willingness to pay bloated prices, when more powerful phones, with more features, more privacy, equivalent ease of use, and more consumer control, are widely available.
#60
“I don’t understand the lemming-like behavior from Apple consumers, and their willingness to pay bloated prices, when more powerful phones, with more features, more privacy, equivalent ease of use…”
more privacy? equivalent ease of use? C’mon…
moose (53)-
I’ll take my chances that shiny will be reverting right back to this little trendline. The last three years have been the buy opportunity of a lifetime.
And, I have no doubt that when the margin calls begin at the start of the collapse of Western Civilization, I’ll have one more buying opportunity.
http://goldsilverworldscom.c.presscdn.com/wp-content/uploads/2013/09/gold_price_trendline_2000_2013.gif
Does Clot drive a dune buggy with spikes all over it?
And wear a metal mask? Remember, the Humungous rules the wasteland! :).
Market imploding again, as expected.
Wow, I bought around 75k worth of stocks from three pm Friday till around 11 am today.
So all on margin and I sold some NYS muni bonds. Got hit with like 23 – 25 offer to buy. Was on-loading with ten year under 2%.
Maybe a big mistake but worried rates turn on me.
@Salon:
“Austerity has added to the problem”: Paul Krugman on why “persistent global weakness is the new normal”
Anon…you’re a moron.
Gotta love that Fair Disclosure violation by Tim Cook, to Cramer of all people too.
69. Latest example of my cheerleading v. stat spread bear market indicator in 8 above. Stats in China are in the sh1tter, so the CEO of one of the most valuable companies in history is talking his book up to one of the biggest buffoons in history. Boom.
So taking off the next few days to go to the beach. I will do an indepth report of how the rich folk are taking this crash
I don’t understand the lemming-like behavior from Apple consumers, and their willingness to pay bloated prices, when more powerful phones, with more features, more privacy, equivalent ease of use, and more consumer control, are widely available
Looking at the words you used to make this statement, I wonder if you even care what consumers think. Your mind seems made up. Are you sure you are looking at this objectively?
I own both Android and Apple devices, Apple has a superior UI, superior usability, superior integrations. I could care less who wins, as I don’t have a horse in the race. A 27″ iMac is the main household PC now, because it is overall a better product. I still use Windows for work, because I have little option otherwise.
I’ll agree, expensive, but arguing that they put out a wholely inferior product? That’s just silly. Android wouldn’t be 1/10th of what it is if there wasn’t Apple to compete against. We’d probably still be using Blackberry if that was the case.
71
I thought Long Beach, LI was where all the firemen took their families in the summer. Guess they will tell you their pensions are immune to market crashes.
72. Agree android is less reliable, more buggy, less seamless, but WAY cheaper. I don’t know who buys a flagship android device but in the high dollar price range Apple has the best product. That being said I’m an android user, plenty of room to tinker and pretty impressive hardware for very little money. Android 4 and up is almost as good as iOS and significantly less costly. I still have macs and an ipad as the hardware is so much nicer that the premium is justified.
72
Also have no horse in the race… but I thought BlackBerry was the most secure/private device out there? DoD only allowed to use BB
I dropped my (just shy of 1 year old) iPhone 6 and cracked the screen, no Apple care, also had some issues with the speaker seeming quiet. Walked into an Apple store, paid $109, they gave me a brand new phone. Making the service appointment on the phone way a joy, was seamless when I walked into the store. The whole process took no more than an hour.
Curious, you ever try to get a Samsung product fixed? I haven’t, but I will guarantee you that it will play out NOTHING LIKE THIS. Don’t ask me how I know exactly how it will play out, but I do, and I would have walked away frustrated, probably swearing to never buy another Samsung product so long as I live.
These guys nail it, nearly every time. It’s not the broad strokes that define them, but the details, the ecosystem, the end-to-end lifecycle.
Like I said, I have no horse in this race, and I don’t particularly care what the stock does, but from a product, retail, and marketing perspective, there is a reason they are looked at as the ones who set the bar.
Every type of product they touch, they revolutionize, and even more so, they leave an indelible mark on the landscape, one that would have never existed otherwise.
[76] I use my Apple Store as a library when I go on vacation for more than a week. Back in February I “borrowed” a 24″ Retina iMac for two weeks. Earlier this month I borrowed a $2500 iMac pro. When I return the items they don’t even ask why and it takes me just seconds to hand the computer back to them and get a receipt. It’s on and off my credit card within a cycle, so it doesn’t cost me a dime. I should probably buy the apple care too, but I haven’t. That would be refundable as well, I imagine?
^^27″ Retina iMac, I meant.
76, yep the experience tends to be seamless, the other thing is android users accept the idiosyncrasies more readily than apple’s users. Samsung is junk as far as phones go my wife had an S3, not a good phone at all always pretty flaky, pretty much useless where as the iphone 4 I had from the same vintage still works flawlessly. Now the $250 alcatel Onetouch 3 I recent bought for the money is down right fantastic for the money 80% of an iPhone 6 plus for a 1/4 of the price. The Chinese government is probably spying on my calls but that’s not relevant.
I’m in the process of buying a house in Durham, NC so I’ll be listing my house in Washington Twp. (Bergen County) in the fall. I’d bookmarked the uber-inspector a long time ago, but I am way up in Outer Whitelandia and I doubt he’d come up here. Anyone know of a good inspector up this way? I’d like to do my own inspection before listing so I have no surprises.
I don’t see why uber wouldn’t go up, he’s gone that far for me.
Android would be better without all the stupid bloatware and add ons that the handset makers trump as differentiators.
A long time ago, Mac laptop (unbeknownst to me) was a few days before warranty expiration. Was having blue screen issue. Apple put in a new motherboard along w keyboard and screen. The latter two replaced “because they looked worn” according to the Apple tech. Total cost, $0. Current MacBook is 7 yrs old, going strong but starting to have trouble keeping up w graphics on the web. Once Apple introduces next gen laptops w skyline processor, I will buy one. Expensive and worth every penny. Plus, have called tech support after Apple care expired and they spent 30 min w me no charge.
Jill I’m further north than wt and uber inspector came up.
Apple has gotten much better at customer support but it was not always that way. About two summers ago they started doing in-store replacements on common items like the display (which they did not do before), cameras, buttons and logic boards. In addition, employees now have access to advanced diagnostics tools, so you get less of you have to buy a new handset etc, especially when out of warranty, they can actually figure out the problem now, so instead of paying a universal swap out fee, out of warranty hardware issues will be fixed in-store when possible. Much better from all accounts I have heard. To provide this level of customer service they had to spend billions. I guess when they had over a 100 billion in the bank they figured they need to keep their customers happier so they don’t jump ship. Money well spent, and I am not so sure Steve Jobs would have approved this level of customer service. Tim Cook for all of his detractors has vastly increased customer service.
re # 82 – Android can be stripped of all bloatware. Not a task for the average pleb of-course. Rooting not so much for IOS anymore although there are a few things you still can do.
I have a Google FI phone now. Just testing the waters on cheaper…
https://fi.google.com/about/network/
No bones about it however Android is more functional. No need to debate me on this folks just ask Woz….
I can also tell you that I’ve worked with enough eastern tech companies that they will drive a fantastic product into the dirt before they ever consider western opinion and relinquish control to their U.S. counterparts.
Canary in a coal mine. My two high schoolers both ditched Apple after absolutely needing it as the status symbol. Has more to do with (what I’m told as I have near zero familiarity with Apple) the ability to use apps, music, etc outside of the Apple store. Whatever Apple is doing with music is really p1ssing kids off. Having said that for any of this to make its way into any kind of negative results, particularly with the US being of diminishing importance, probably wont happen.
My experiences with Apple.
Five years ago, my kid dropped a friend’s new iPhone on kitchen tile and its screen was damaged. The screen was damaged, and no apple care. Apple store guys replaced it (no cost; my friend had to backup his data and bring back the old phone).
I had a Lenovo Yoga, which had a hinge problem. I spent many hours on phone with them. Once a techie came to my place to repair and caused more damage. Eventually I sent the machine back to them. They offered a replacement, but are still asking multiple times for me to confirm my home address (four weeks and going!) I would never buy from them again.
Had a HP screen crack (kid stepped on it). I had extended warranty (turns out that they cover only the shipping, and charge 300 for screen — replacement screen was $50; which also cracked).
My younger one drops the iPad and mac book sometimes and nothing bad happened yet, and even if something happens I can drive to Apple Store for repair.
The extra cost is definitely worth it…
Hold me blumpkin. I’m skeeeeeeered.
Jill,
If you mean WT next to the Hillsdale/Westwood area, uberI certainly comes out that way. I used him a few years ago for my house a few towns over. I must say though, and with all due respect to ChiFi, Libturd, and others who recommended him on this board, I didn’t find him to be much “uber”. In fact, I was quite excited when I was able to book him (whereas I couldn’t for another home that I had inspected a few weeks earlier), but uberI’s inspection seemed rather cursory relative to the other inspector (who actually was pretty impressive). He didn’t go up on the roof (as did the other); the radon test didn’t come back for quite some time (followed up to find out it got “lost” so the radon tester (he uses) had to come back and do it again). And the radon equipment they use was medieval (some charcoal type of things) than the electronic gizmo the other inspector used. All uberI did was basically walk the house, kept playing with his thermal imaging toy, and spent more time plugging his inspection business (especially his commercial side) which he would like to build up more in Bergen county to me but especially so with the realtor (who is very well established – top 1% in the nation). Perhaps an experienced professional like him may have a feel and can “tell” whether a house needs a deep inspection or not, but it turns out he did miss a few things that should have been quite obvious to a person like him (minor but still) and reported on some things that weren’t code when the realtor and town code official (?) determined they were fine. Perhaps it was just an off day and he usually does good work as many people have mentioned. Just thought I would share my experience as apparently he gets a good amount of referrals from this blog as he mentioned. I can try to look up the other guy if you still need. Hope this helps. Good luck.
Would be nice if I got a little kickback, just saying is all.
I prefer to use ringer inspectors who specialize in ugly reports. A good inspector should make the seller want to give away the house and run away without the liability.
That said, it usually scares my clients too much.
Most people give inspectors way too much credit and too much blame.
Ideally when you tell the realtor the name of the inspector, her face blanches.
Blumpkin is prolly deep into his second bottle of Immodium right now.
93
Home inspectors suck, they are generalists.
Got a guy who is a solid small GC? Throw him a few hundred, same for the mechanical guy.
When I bought my house a GC buddy ran through it with me after the inspector left, pointed out a lot of things he missed, a couple of roof Nd gutter issues, a lousy deck install they did on their own etc.
Fun part was I used to rep a line of HVAC test equipment. When I hooked up the combustion analyzer to the ancient furnace the seller just went pale. Told him he had a CO leak, and the furnace was shot. Hemmed, hawed, and said he would have NJNG look. They confirmed, said he would replace or he would write me a check for 5K. Took the check, bought a $900 furnace from work, new AC, pocketed the difference and took about $3000 in tax credits. 2009 tax credits and rebates were great.
Gotta love these headlines.
“Don’t freak out about your 401(k)
Is it time to tweak your strategy? Probably not”
Meanwhile anyone who knows anyone who works on Wall St is freaking out.
@Ponderer: Yeah, I would like the name of the other guy, and yeah that is the WT I’m talking about. I’d like to have my own inspection done before listing to forestall any kind of major surprises on buyer inspection.
It’s possible the uber was not on that day. He’s usually pretty damn thorough. Perhaps his business is getting too big? So what did he miss?
And honestly, I can only compare him to the POS who inspected my multi (came recommended by our realtor) and missed more than he found. Way more.
100
Anyone your realtor recommends should definitely be crossed off the list.
97
Missing @roll the dice.
“Anyone your realtor recommends should definitely be crossed off the list.”
For the most part…I agree. The kickbacks are often strong.
Meanwhile anyone who knows anyone who works on Wall St is freaking out.
suicide is painless.
https://www.youtube.com/watch?v=4gO7uemm6Yo