From HousingWire:
CoreLogic expects home prices to peak in 2017
Home prices increased in August both monthly and annually, according to the Home Price Index and HPI Forecast released by CoreLogic, a global property information analytics and data-enabled solutions provider.
Home prices, including distressed sales, increased 6.2% annually in August and 1.1% from July, according to the CoreLogic HPI.
“Home prices are now just 6% below the nominal peak reached in April 2006,” said CoreLogic Chief Economist Frank Nothaft. “With prices forecasted to increase by 5% over the next year, prices will be back to their peak level in 2017.”
From CNBC:
Home prices heat up: Crisis and opportunity
Rising buyer demand and increasingly short supply are lighting a fire under the U.S. housing market. Home prices in August surged on a monthly basis by the largest margin in 11 years, and the annual price gain of 6.2 percent is a sharp acceleration compared to the past two years, according to CoreLogic.
“Housing values continue to rise briskly on stronger fundamental and investor-fueled demand, as well as lack of adequate supply,” said Anand Nallathambi, president and CEO of CoreLogic. “This continued price appreciation is contributing to a growing affordability crisis in many markets around the country.”
States with the biggest gains include Washington (+10.2 percent), Oregon (+10.3 percent), Colorado (+9.1 percent) and Florida (+7.6 percent). Western states are seeing a migration of tech workers from Silicon Valley who have been priced out of the housing markets there.
“We have an affordability issue generally. California is the biggest problem. There has been a complete decoupling between home price growth and median income growth,” said Jonathan Woloshin, executive director and co-head of fundamental research at UBS.
…
But while affordability for buyers is weakening, rising home values are benefiting homeowners who chose to stay put. They cashed out $22.6 billion in home equity in the second quarter of this year, the largest amount since the middle of 2009, according to Black Knight Financial Services. That may sound like a lot, but it is still nearly 80 percent less than the peak of cash-out refinances in the third quarter of 2005, the height of the housing boom. It is not even close to what borrowers could have taken out.
towns around me have no inventory. but everything under $500k just sits there.
any new construction doesn’t last. angry local trump supporters get angrier that liberals are coming in and pricing them out
Migraton of tech workers to Colorado? Telecommunring from a double wide by the slopes?
Really though – if you can’t make it in Silicon Valley as a tech worker, are you really a tech worker?
what u mean?
Grim says:
October 5, 2016 at 7:09 am
Really though – if you can’t make it in Silicon Valley as a tech worker, are you really a tech worker?
A joke?
Like you aren’t really a Democrat unless you own a mansion in Upper Montclair?
What’s the over/under on the gas tax passing today?
Grim, Libturd,
Looks like that original euro model you posted was spot on.
http://www.nhc.noaa.gov/refresh/graphics_at4+shtml/093327.shtml?5-daynl#contents
Eh, the models have this thing hitting Florida now, and then going out to sea, doing a loop-de-loop, and hitting the Bahamas again.
Appears completely unpredictable.
Pretty much every forecast for this thing has been wrong in some way.
It’s fun to watch the weather geeks argue though. Dr Jeff Masters’ blog on Wunderground has been absolutely out of control with this thing, they had to move to a bigger server to accommodate the load. They are nearly hitting 2000 comments on blog posts (and they are making multiple during the day).
And no, I’m never going to drop it.
http://lm.facebook.com/lsr.php?u=http%3A%2F%2Fwww.si.com%2Fnfl%2F2016%2F10%2F04%2Ftom-brady-deflategate-ideal-gas-law&ext=1475669513&hash=Acl_HSyXBCTuTtX_darlRCJy-FYkYPSa_sGWOY4JsxF3Tw&_rdr
Grim, feel free to delete prior post. For some reason, it still gives me a FB link from the SI site. So it won’t connect to the story about the latest engineering professor takedown of the Wells report.
Because, science
In my benefits law newsfeed this morning:
–Obama administration denying insurer claims for risk corridor overage payments. Blames Congress. That may actually be a winning legal argument but ATEOTD I doubt it will succeed.
–commentators now seeing single payer on horizon because of all the Obamacare problems and dislocations.
Like we didn’t see all of this coming six years ago? The only problem was timing–all these chickens were supposed to come home to roost AFTER the election.
@AlecMacGillis
Pence is giving the country a very good preview of how the Republican Party is going to move beyond Trump.
Just pretend he never happened.
Had to change devices. This link works better.
http://www.si.com/nfl/2016/10/04/tom-brady-deflategate-ideal-gas-law
Twitiot,
Good advice considering Trump is your candidate.
“We have an affordability issue generally. California is the biggest problem. There has been a complete decoupling between home price growth and median income growth,” said Jonathan Woloshin, executive director and co-head of fundamental research at UBS.
With all those dollars sitting in Asia looking for returns, it’s only natural for them to make their way back here. I believe this is what the beginning of inflation looks like as dollars return overseas. Rising prices without income keeping up. People in California can’t afford the prices anymore yet there are still buyers at these levels. I would be interested to see what percentage of home sales belong to foreigners.
More of that stuff that the Leftists tell us is all a figment of our imaginations.
http://www.usatoday.com/story/news/politics/elections/2016/10/05/indiana-police-raid-voter-fraud/91588742/
In the past three days, I have seen stories from VA, Colorado, Cali, and now Indiana.
And this is just what gets caught.
Liberal=Liar
http://www.mybudget360.com/h1b-visas-low-tech-wage-workers-visas-silicon-valley/
“Importing lower wages as 75% of Silicon Valley’s tech workers are foreign-born: How tech manipulates the H-1B visa program for cheap labor.”
re: 75% of Silicon Valley’s tech workers are foreign-born.
Same in New Jersey.
donald j trump com/press-releases/donald-j.-trump-position-on-visas
“Megyn Kelly asked about highly-skilled immigration. The H-1B program is neither high-skilled nor immigration: these are temporary foreign workers, imported from abroad, for the explicit purpose of substituting for American workers at lower pay. I remain totally committed to eliminating rampant, widespread H-1B abuse and ending outrageous practices such as those that occurred at Disney in Florida when Americans were forced to train their foreign replacements. I will end forever the use of the H-1B as a cheap labor program, and institute an absolute requirement to hire American workers first for every visa and immigration program. No exceptions.”
And yet Palantir is being sued by EEOC for NOT hiring Asians in proportion to their applicant pool.
I discussed the Palantir case with the supervising partner last night; he’s a plaintiff side labor and employment attorney and even he thought EEOC was bringing a bullsh1t case. And then when I said Peter Thiel, his eyes rolled and he said “now I get it.”
Roll Eyes on this DOJ move.
http://www.politico.com/story/2016/10/marc-turi-libyan-rebels-hillary-clinton-229115
Juice,
Already did. Rule of Law in the country is on life support. The DNC and the party are little more than a junta, treating this once-proud nation like a banana republic.
I predict some real shooting before 2018
Nixon was impeached for far less than Obama and Clinton have been proven to have done.
I stand by this statement. I challenge anyone to prove it incorrect.
Her foundation is enough. Hillary is easily bought and she will be the next POTUS. The middle class will continue to shrink, the rich will get richer and the unmotivated will get more crumbs. Maybe in four more years, the sheeple will not be so easily fooled. Perhaps all of these public school high-stakes testing and dumb state mandates (like Abbott) are just an intentional ploy to keep future constituents equally as stupid as current and past constituents?
In watching the debates, I cannot believe how delusional the Democratic establishment is, telling the electorate all is well. America doesn’t see it that way, there is a reason the populous wanted a Bernie vs. Trump election, that is a clear sign people aren’t happy with the status quo.
It’s all Gronk’s fault. If he would have just spiked the football after that touchdown instead of folding it twice and tucking it in his waistband… no one would have even noticed that anything looked out of place.
Had to change devices. This link works better.
http://www.si.com/nfl/2016/10/04/tom-brady-deflategate-ideal-gas-law
Simple forecast…..if the economy is good in 2020….Hillary wins; if we are in recession, she’s out…..
STEAMturd knows hyper incarceration makes hyper gentrification oh so much easier says:
October 5, 2016 at 10:57 am
Her foundation is enough. Hillary is easily bought and she will be the next POTUS. The middle class will continue to shrink, the rich will get richer and the unmotivated will get more crumbs. Maybe in four more years, the sheeple will not be so easily fooled. Perhaps all of these public school high-stakes testing and dumb state mandates (like Abbott) are just an intentional ploy to keep future constituents equally as stupid as current and past constituents?
if the economy is good in 2020….Hillary wins; if we are in recession, she’s out…..
You’ll enjoy this ChiFi…though it is wonkish. We know economy does better under blue team, but can we attribute the better economy to their policies? Can it be used as a reliable macroeconomic predictor?
http://tinyurl.com/dem-or-rep-economy
I really don’t have a political opinion, but given that it is Blinder, you have to very careful…..just skimming the beginning….his data set covers through 2013, which is convenient, because it cover the financial meltdown which almost bottom ticks the end of W’s regime and gives the Obamunist a turbocharged set of data…..so I would posit that the essential premise of this paper is to be a partisan hack…..just a guess….
STEAMturd knows hyper incarceration makes hyper gentrification oh so much easier says:
October 5, 2016 at 11:58 am
if the economy is good in 2020….Hillary wins; if we are in recession, she’s out…..
You’ll enjoy this ChiFi…though it is wonkish. We know economy does better under blue team, but can we attribute the better economy to their policies? Can it be used as a reliable macroeconomic predictor?
http://tinyurl.com/dem-or-rep-economy
http://nypost.com/2016/10/04/obamas-tragic-admission-hes-learned-nothing-as-president/
At some point, he said, he concluded his critics were “not even trying to be fair-minded in their assessments or recommendations,” and he found that liberating because he could ignore them.
http://newyork.cbslocal.com/2016/10/05/nj-gas-tax-vote/
Hillary deploying her secret weapon….Al Gore
I thought her secret weapon was Depends.
My parents down in Boca, just bought a new car this week. Perhaps they should have waited till this weekend to take delivery?
Working from home office today because of appliance delivery and I hear a load of helicopter hovering traffic near my neighborhood. I had seen a bad accident earlier on Route 202 but I thought the helos were pretty far from that.
Nope, this is what passes for newsworthy in my neck of the woods. This will affect my kids’ bus ride home.
http://www.nbcphiladelphia.com/news/breaking/Horse-Rescue-Chester-County-Mud-396034041.html
That gas tax is pissing me off…
http://southpark.cc.com/clips/359101/that-pisses-me-off
In general, economists are statists. Most of them are looking for jobs in government or in government-backed institutions. And most economists at brokerage firms are focused on publicity and advertising for generating trading revenues.
The stats have almost certainly gotten worse since this paper was written 9 years ago. The world has turned to fascist economic policies, and given the intellectual leadership of economists, it will continue to just get worse, where every failure of their policies will be blamed on freedom and a lack of power granted by government to interfere with the economy even more than it already does.
Is There a Free-Market Economist in the House?
The Policy Views of American Economic Association Members
By DANIEL B. KLEIN and CHARLOTTA STERN*
ABSTRACT. People often suppose or imply that free-market economists
constitute a significant portion of all economists. We surveyed
American Economic Association members and asked their views on 18
specific forms of government activism. We find that about 8 percent of
AEA members can be considered supporters of free-market principles,
and that less than 3 percent may be called strong supporters. The data
are broken down by voting behavior (Democratic or Republican).
Even the average Republican AEA member is “middle-of-the-road,”
not free-market. We offer several possible explanations of the apparent
difference between actual and attributed views.
Gas Tax…I guess everyone is figuring out that once the gas tax is passed, the tax reductions will eventually be repealed …so..instead of playing games..and hitting us with a huge increase at once..how about 10 cents now, 10 cents a year from now and 5 cents a year after and drop this “neutral” tax charade…I know, can’t happen till Christie leaves.
3,500 Pennsylvanians dropped dead in the last year do to opoi*d addiction.
You think after a story like this one they don’t want a wall built?
https://www.washingtonpost.com/news/to-your-health/wp/2016/10/05/a-7-year-old-told-her-bus-driver-she-couldnt-wake-her-parents-police-found-them-dead-at-home/
A wall works both ways….just remember that, Keeps people out and keeps them in.
A wall? These people are killing themselves.
The Heroin is grown and coming from Mexico. DOES anyone here even watch VICE?
Not that it matters from the 90’s anyway but…
BILL CLINTON CAUGHT GROPING Flight Attendant On Plane Until He Realized Camera Was Recording Him [VIDEO]
http://100percentfedup.com/bill-clinton-caught-groping-flight-attendant-on-plane-until-he-realized-camera-was-recording-him-video/
I read a theory that this is partially a result of legal marijuana. The cartels can’t compete…so they diversified their business into heroin. Prices have dropped considerably.
Mc Box says:
October 5, 2016 at 3:10 pm
The Heroin is grown and coming from Mexico. DOES anyone here even watch VICE?
Point is Trump is politicking on stopping the drugs from coming in via building a wall. It has to resonate even with the folks from Pennsyltucky.
D-FENS, he is old school putting your hand up the skirt of a woman who is not your wife is perfectly acceptable, so is sexting any female dumb enough to use a kids messaging app called Kik Messenger which is only popular with young teens.
Why isn’t Carlos Danger in cuffs yet anyway?
Pretty incredible.
https://www.washingtonpost.com/news/the-switch/wp/2016/10/05/why-jeff-bezos-may-crash-his-historic-rocket/
Juice,
Not just a Pennsyltucky problem. Lots of towns back in Mass reporting this as an epidemic. I know plenty of people affected by this, judging by FB posts, and it isn’t just “I know a guy” close. One HS classmate saw her son go to prison for dealing. And last year, the eldest son of one of my h.s. girlfriends OD’ed in his dorm room. Dead at 20.
Juice,
What do Bill Clinton, Elliot Spitzer, and Anthony Weiner all have in common?
Hint: it’s not their state of residence.
Heroin is not to be trifled with. It’ll kill you. Cannot understand that level of addiction and yes it’s a huuuuuge problem.
I’ve tried nearly everything, but I would never touch H.
Or Krokodil. Though I used to be addicted to Chocodiles.
It’s very simple to understand. Pain is something that is continually suppressed in your body by neurotransmitters. Every possible type of physical pain is instantly available to your body at all (non-medicated) times by suffering some type of trauma. Your body produces these neurotransmitters naturally…until you get hooked on heroin, then your body stops making them because you are shooting a better type of pain suppressing neurotransmitter that occupies all of the sites where the natural neurotransmitters would bond. Why keep the factory running if there are no buyers for the product? So if you understand this, you can understand heroin withdrawal, which is every type of pain you could possibly experience…simultaneously, until your body is able to get the neurotransmitter factory going again. It’s the excruciating pain of withdrawal they can’t take.
Heroin is not to be trifled with. It’ll kill you. Cannot understand that level of addiction and yes it’s a huuuuuge problem.
^^^^BTW, I learned that from a microbiology text book very early in college. It was all the convincing I needed to never try. I can withstand a lot of pain, unless it’s my own, of course.
That’s gotta suck. Big Time. Clapton locked himself away for 7 years abd made model airplanes – of course he snorted the snuff.
I finally have a write in candidate for president John Curley
http://nypost.com/2016/10/05/officials-fat-f-k-insult-infuriated-christie-staffer-testifies
“More of that stuff that the Leftists tell us is all a figment of our imaginations.”
Wow, the only fraud I see here is you! Here is how I see this. We have 45000 new registrations that I will assume are not voting GOP and less than 1% of forms have issues.
“The IVRP uses quality-control procedures to catch issues with voter registrations. Varoga said any of the applications that have been earmarked as fraud were already earmarked by the IVRP as incomplete or incorrect.”
So the firm had already flagged the forms with issues. A mistake on a form is not fraud. No fraud has been shown and I suspect nothing will be.
But we have this gem;
“The involvement of a State Police trooper who is interested in running for sheriff in Johnson County as a Republican causes concern, Varoga said.”
State Police Capt. David Bursten said the trooper in question was involved in the initial stages of the investigation but was not involved in Tuesday’s search warrant.
That trooper has only formed an exploratory committee, Bursten said, and he still has until January to declare his candidacy. In that case, he would be removed from parts of the investigation that would involve Johnson County.
“There is nothing criminal or illegal or immoral about him being part of the investigation,” he said.
If it walks like a duck and quacks like one? But here is the best part.
“He (Varoga )also said investigators seized personal cellphones during the search and denied staff the opportunity to contact an attorney, then told them that if an attorney were contacted, a state trooper had to be present. When an attorney did arrive, Varoga said, he was denied access to the office.”
You are stunningly silent about that. Is that all above board? If this was GOP registraions, you would be screaming.
So now everything is sealed for 30 days and those 45000 voters will not get on the rolls. That’s called voter suppression and its happening all over the country in places like “VA, Colorado, Cali”
This voter fraud is rampant. 1 Billion votes, 31 identified investigations covering 241 votes.
https://www.washingtonpost.com/news/wonk/wp/2014/08/06/a-comprehensive-investigation-of-voter-impersonation-finds-31-credible-incidents-out-of-one-billion-ballots-cast/?tid=a_inl
“If it walks like a duck and quacks like one?”
If you’re going to use that standard, use it consistently.
These don’t count?
https://www.washingtonpost.com/local/virginia-politics/he-fought-in-world-war-ii-he-died-in-2014-and-he-just-registered-to-vote-in-va/2016/09/29/5e0bffee-8670-11e6-ac72-a29979381495_story.html?tid=sm_tw
http://denver.cbslocal.com/2016/09/22/cbs4-investigation-finds-dead-voters-casting-ballots-in-colorado/
Joyce
24 hits for the WW2 vet in CO. I’ll put it down to clerical error.
http://www.spokeo.com/John-Grosso/Colorado
Eddie Ray,
On election night, why don’t you head down to the courthouse. When your dog whistle goes off when he loses, you can file your motions contesting the results.
“We’re gonna watch Pennsylvania. Go down to certain areas and watch and study and make sure other people don’t come in and vote five times. … The only way we can lose, in my opinion — and I really mean this, Pennsylvania — is if cheating goes on. I really believe it. Because I looked at Erie and it was the same thing as this. …
[L]et me just tell you, I looked over Pennsylvania. And I’m studying it. And we have some great people here. Some great leaders here of the Republican Party, and they’re very concerned about that. And that’s the way we can lose the state. And we have to call up law enforcement. And we have to have the sheriffs and the police chiefs and everybody watching. Because if we get cheated out of this election, if we get cheated out of a win in Pennsylvania, which is such a vital state, especially when I know what’s happening here, folks. I know. She can’t beat what’s happening here.
The only way they can beat it in my opinion — and I mean this 100 percent — if in certain sections of the state they cheat, OK? So I hope you people can sort of not just vote on the 8th, go around and look and watch other polling places and make sure that it’s 100 percent fine, because without voter identification — which is shocking, shocking that you don’t have it.”
clerical error, ok… and the others?
Joyce,
The VA cases remind me of a buddy of mine. All the forms were from James Madision University. My buddy was very active in the Rutgers GOP back in the day. I would not put it past someone like him filing the forms and then dropping a dime.
My buddy is a very successful lobbyist these days.
““If it walks like a duck and quacks like one?””
You mean like when a dictator in Africa pays into the Clinton Foundation and all of a sudden, American aid shows up?
Any other likely possibilities you can think of to explain it, Fabius?
you have friends?
Fabius Maximus says:
October 5, 2016 at 10:04 pm
My buddy is a very successful lobbyist these days.
Lib,
From Marc Rich onwards, there are concerns. In the big picture, i can get past it. The foundation is doing some good work and the right will make what ever they can from it. The complains further back were that the Saudis gave x amount of dollars, but then the Saudis gave the same to W build his library, which was the initial purpose of the the campaign.
On all sides there is a bitter pill to swallow.
Joyce
Many, and yes there are some issues with voter fraud, but its more on the absentee ballot side, but the number of votes in question is miniscule.
You wrap yourself in rights and the constitution, yet you have no comment on 200 registration “mistakes”(even if it is fraud), removing 45,000 citizens from their voting rights?
Joyce Redux
On top of the Sheriff departments overreach, trampling on peoples constitutional rights, with the office search.
You want to make the constitutional argument, you have to be consistent in your application.