Up up and away

From CNBC:

US home prices surged 6.2% from a year ago

U.S. home prices climbed a robust 6.2 percent from a year ago, amid strong demand from would-be buyers and a shrinking supply of properties for sale.

Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index stood in October a solid 6 percent above its previous 2006 peak. Prices are rising at more than double the pace of wage growth, creating some affordability pressures that have been offset by relatively low mortgage rates. Metro areas with booming job markets and the steepest home price gains could see more residents staying as renters.

“Since home prices are rising faster than wages, salaries, and inflation, some areas could see potential home buyers compelled to look at renting,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.

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

15 Responses to Up up and away

  1. Hold my beer says:


  2. Hold my beer says:

    800k+ for rutherford? LOL

  3. Hold my beer says:

    How much did houses in non train North Jersey towns go up?

  4. Hold my beer says:

    Dallas up 7.2% in 2017 and 60% since 2009

  5. The Original NJ ExPat says:
  6. Juice Box says:

    Our hot water heater gave us a Christmas present last night and sprang a leak. It looked pretty rusted inside so it may have been leaking for a while. I have our plumber on the way with my new one now. All in with removal and permit is $1,350…

  7. grim says:

    Case Shiller HPI SFH – Someone can post the condos :)

    Low Tier – Under $315k
    1 Yr – Up 7.3%
    2 Yr – Up 13.4%
    3 Yr – Up 17.8%
    4 Yr – Up 20.2%
    5 Yr – Up 26.o%

    Mid tier – $315k-$501k
    1 Yr – Up 7.9%
    2 Yr – Up 11.1%
    3 Yr – Up 15.0%
    4 Yr – Up 17.2%
    5 Yr – Up 24.6%

    High Tiger – Over $501k
    1 Yr – Up 4.6%
    2 Yr – Up 5.6%
    3 Yr – Up 7.7%
    4 Yr – Up 9.7%
    5 Yr – Up 14.8%

    1 Yr – Up 5.9%
    2 Yr – Up 8.2%
    3 Yr – Up 11.0%
    4 Yr – Up 13.0%
    5 Yr – Up 18.6%

  8. Blue Ribbon Teacher says:

    Our hot water heater gave us a Christmas present last night and sprang a leak. It looked pretty rusted inside so it may have been leaking for a while. I have our plumber on the way with my new one now. All in with removal and permit is $1,350…

    My town is like that with the permits, but they don’t actually keep track of anything to know if you should have had a permit or not.

  9. arthurclin says:

    Wow, she is one of the most beautiful girls I have seen

  10. Juice Box says:

    I rather have the inspection done. When we bough the house 5 years ago the home inspector said the water heater was on it’s last legs as it did not have the required bonding wire which helps prevent corrosion. The remedy was installing a bonding wire. I could have insisted on a new water heater but at that point it wasn’t enough to cancel the deal. The mold in the attic was another story.

    Joys of home ownership so far have been mostly electrical related. Motor for the pool pump, AC condenser motor and now the gas water heater corroded. All in all I am out just over two grand in maintenance for that stuff, which is zilch really. I have lots of other things that could break too dishwasher, stove, fridge, 2 zone heating, sprinkler system but so far so good. My pool needs some major maintenance in the spring.I may put that off if I can do a quick patch on the flashing and steps that need to be replaced.

    I have remodeled two bathrooms and a laundry room by myself, except for the granite work which was done buy the locals with remnants we picked out on the cheap. Next up is our entrance foyer tile and front door replacement. I also have a covered hardwood deck that needs some maintenance. The exposed steps are rotting and I replaced the pine risers last month since they were rotted out. Some painting needs to be done too. Whole house was painted when we moved in, but my two boys are good a being boys, so there are small nicks and dents in the sheet rock where toys were thrown and crayon and markers and other unidentified substances mark the walls and floors in a few rooms.

    The joys of home ownership really never do end…

  11. grim says:

    You could have done the replacement job, the biggest issue is a second set of hands to carry.

  12. The Original NJ ExPat says:

    It looks like most of the Northeast is in for the same thing; however cold it is right now outside, it won’t be that warm again until next Thursday.

  13. Chi in Cooperstown 7 degrees says:

    F y’all

  14. Njescapee says:

    81 degrees here today

  15. No One says:

    This article shows that NJ SAT scores are a whopping 6 points higher than Georgia, 1056 vs 1050. These NJ teacher unions are worth every penny to elevate our kids so far above those southern bumpkins with their low taxes. Though North Carolina kids scored higher than either state. NC’s teacher pay averaged 43k, versus NJ’s 70k. It’s for the children.


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