From Bankrate:
Home prices are down — but not enough to ease affordability
Home prices are still high. But they’re not rising quite as much.
Nearly 90 percent of the country’s metro areas saw single-family home prices rise in the fourth quarter of 2022, according to the newly released Metropolitan Median Home Prices and Affordability Report for Q4 2022 from the National Association of Realtors (NAR). The national median price for an existing single-family home now stands at $378,700. While that’s a 4 percent year-over-year increase, it actually represents quite a slowdown compared to the previous quarter’s 8.6 percent rise in home prices.
“A slowdown in home prices is underway and welcomed, particularly as the typical home price has risen 42 percent in the past three years,” said Lawrence Yun, NAR’s chief economist, in a statement.
However, thanks to inflation, increased interest rates and other factors, the monthly mortgage payment on that median-priced home, with a 20 percent down payment, would now be $1,969, according to NAR — a jump of $720 (or 58 percent) over one year ago.
With median home prices rising just 4 percent year-over-year, but monthly mortgage payments rising a whopping 58 percent, it’s clear that the housing market is somewhat in flux.
Nearly all (166 out of 186) of metropolitan areas tracked by NAR saw home price gains in Q4 2022. But the amount of those gains is shrinking. Double-digit price increases occurred in just 18 percent of those areas — down from 46 percent in Q3.
As always in real estate, it’s a matter of location, location, location. The Northeast region had the highest year-over-year price appreciation in Q4 with 5.3 percent growth. The South saw 4.9 percent, the Midwest 4.0 percent and the West 2.6 percent.
First
…the monthly mortgage payment on that median-priced home, with a 20 percent down payment, would now be $1,969, according to NAR — a jump of $720 (or 58 percent) over one year ago.
The Northeast region had the highest year-over-year price appreciation in Q4 with 5.3 percent growth.
…the typical home price has risen 42 percent in the past three years.
The last statement above is mind-numbing. And the Northeast YOY increase is proof that you could shit in the middle of the living room during an open house and the place will still have multiple offers by 5:00 PM the next day.
Fast: And some believe this is perfectly fine and justified. Young couples both working to pay a mortgage and taxes to live in a crusty cape in Fairlawn ( or any other Bergen Co town ) huge daycare costs.
3b,
My house now is a seven digit purchase. I’ll accept nothing less. It’s warranted.
In further news, the votes are still coming in for John Fetterman. Pay no attention to those covered windows as the counting continues. The people deserve fair elections!
Comment section of a polarizing news article.
FOR SALE: My White Privilege Card, it’s a little over 70 years old, but in like new condition. It has never been used, I want to sell it because it’s not done me any good…..No free college, No free food, No free housing, No free anything. Truth is I had to work very hard while paying an incredible amount of taxes in order to carry those who chose not to work. If you’re interested I’ll accept cash but I prefer an even trade for a new or used Race Card which is more widely accepted and comes with unending benefits.
I think we all agree that it’s good to be a gangsta.
Lib, closed my browser yesterday so fast I still had a Prof G quote inside but unsent…
“Anyway, in the third quarter of 2022 we predicted on the Prof G Markets Pod that inflation would come down as fast as it had accelerated. (I just read the last sentence and one thought runs through my head: When did I get so boring?) Wrong again. It’s going down faster.”
I will join that club on the inflation downtrend forecast and timing although I think I was even a touch earlier, like June. And I would note I took some unmitigated shit for it too…and might as well join the boring club lol.
Does it come with a lifetime pension and healthcare benefits?
Does it have a Social Security and Medicare fully funded clause?
FOR SALE: My White Privilege Card, it’s a little over 70 years old, but in like new condition. It has never been used, I want to sell it because it’s not done me any good…..No free college, No free food, No free housing, No free anything. Truth is I had to work very hard while paying an incredible amount of taxes in order to carry those who chose not to work. If you’re interested I’ll accept cash but I prefer an even trade for a new or used Race Card which is more widely accepted and comes with unending benefits.
Truth is I had to work very hard while paying an incredible amount of taxes in order to carry those who chose not to work.
Since you paid such an incredible amount of taxes, please explain your lack of ability to balance the budget in any single year of your lifetime. It appears you voted for those who would supply you with your needs and wants while at the same time kicked the budget can down the road miles ahead of your deteriorating eyesight.
“In fact, in my 15 year teaching career, I’ve yet to witness a real fight in high school. We don’t even have kids get mad at each other.”
When ‘life is good’, well life IS good…no reason to walk around angry or with a chip on one’s shoulder….
chi, nice trifecta last night…Red win, unexpected Mich Tech loss dropping them from 10th to 12th, and a MI win over MI State to drop them all good…plus Harvard only picked up 12 points by beating a very weak opponent…
Need that second win later, and we are fans of MI again and Bowling Green as well tonight…
“Since you paid such an incredible amount of taxes, please explain your lack of ability to balance the budget in any single year of your lifetime. It appears you voted for those who would supply you with your needs and wants while at the same time kicked the budget can down the road miles ahead of your deteriorating eyesight.”
I know the whole ‘thanks boomer’ thing is your schtick but it is neither accurate nor productive (and, no, I’m not a boomer).
How long have you had your vote? At least two decades?
How is anything you said above about the boomers different than what is occurring now?
Notice I said ‘occurring’ and not ‘what you are doing’….because the issue isn’t what the boomers ‘did’, or what the Millennials did, or anyone else…
The issue is institutional…
How many ‘change agents’ have been elected to Congress? A lot. What have they been able to change? Not a freaking thing.
The problem is institutional…until and unless you (we) cease the creation of a permanent political class that exists to trade you and your wealth, heath, and well being as favors for their own gain and wealth the problem will continue…regardless of which generation is in power or sunset.
Pitting ‘boomer’ vs. ‘gen-x’ or whomever is an intended distraction that distorts discussion of real solutions while perpetuating the status quo, which status quo favors none of us but all the politicians.
I agree with the rest of your comment, but in regards to this one… doesn’t this clash with your stance that we get the government we deserve/it’s our fault/etc. (or is that only at the state level)? Hope that doesn’t sound antagonistic, not meant that way.
leftwing says:
February 11, 2023 at 1:23 pm
Notice I said ‘occurring’ and not ‘what you are doing’….because the issue isn’t what the boomers ‘did’, or what the Millennials did, or anyone else…
“I know the whole ‘thanks boomer’ thing is your schtick but it is neither accurate nor productive (and, no, I’m not a boomer).
How long have you had your vote? At least two decades?
How is anything you said above about the boomers different than what is occurring now?
Notice I said ‘occurring’ and not ‘what you are doing’….because the issue isn’t what the boomers ‘did’, or what the Millennials did, or anyone else…
The issue is institutional…”
I’ve had a vote longer than that.
Different than occurring now-well, that was in my post above. Pensions, S Security, etc – deficits-the same or worse.
Schtick? Well, A boomer making a post like that and crying about their life or “White Privilege Card” deserves a response.
I agree it’s institutional. But someone who has lived 70 years and, having a productive life with the only complaint being working and paying taxes, should probably count their blessings and STFU when there are plenty that never even made it that far through no fault of their own.
FU Grandpa, if you made it to 80, your house is paid off, and you have a pension, lifetime health benefits, and Social Security/Medicare till you die, just be grateful for it as those coming after you aren’t going to get any of those things.
I love how those who collect certain benefits for themselves are perfectly fine with those coming after them not to receive the same “handouts” as they receive.
A little Story:
During surgery, music is sometimes played.
Some 50’s music in the background. I said something like, ” Must have been a great time to grow up,” thinking about Porky’s, Happy Day’s, etc.
My back was turned to the anesthesiologist. He quietly came up behind me and said something to the effect of ” Maybe for someone who looks like you, boy.”
He was African-American. Someone I respect. Extremely talented.
That will stick with me forever.
Phoenix,
Didn’t you get the message? The Rs think reverse racism is a bigger problem than racism. White people simply worked harder and Irish/Italians/Jews had same obstacles There was no systemic racism ever..all made up by liberals.
“I love how those who collect certain benefits for themselves are perfectly fine with those coming after them not to receive the same “handouts” as they receive.”
Again if you – the generic you, the generation you seem to be giving voice in opposition to prior generations – have had the vote for longer than two decades then CHANGE THE STATUS QUO. Voting for that long? You are complicit by now in the outcomes. By definition.
Murphy – pretty much universally mocked and disliked here – squeaked by Ciattarelli, barely, in a state race where a truck driver spending all of $2,200 on a campaign ousted the second most powerful incumbent in the state. Someone I respect on this board noted he voted for Murphy holding his nose as he could not pull the lever for Ciattarelli because Ciattarelli at one time posted something in support of one of Trump’s policies.
Dislike Murphy but pulled the lever for him? You, generically, are part of the problem. He was elected by people under 50. And the march toward bankrupting the State goes on…
Until and unless YOU change the status quo, the endless march downward you describe will continue, and you are complicit. Not a victim.
Joyce, I see my views as consistent…as above, if you want something to change but don’t effect it you are part of the problem, and you get what you deserve. It’s not someone else’s fault…
“Must have been a great time to grow up…Maybe for someone who looks like you, boy.”
Change takes time…and the fact that he was in the operating theater, in a role more advanced than many whites in that room, says everything.
Want change? EFFECT IT.
Some 70 year old woman on her porch is not your enemy. A career politician in DC? He is your enemy.
I agree with your sentiment but still don’t understand. This issue IS what the boomers did, or didn’t do, as well as the previous and successive generations.
3:03 you, uh, don’t get out much?
re: “Dislike Murphy”
You can bet he will be all in if sleepy Joe does not run.
Take a look at yesterdays meeting of various democratic Governors with the sleep Joe. Murphy is lining up the ducks to run.
https://twitter.com/GovMurphy/status/1624091959475294208/photo/1
Again if you – the generic you, the generation you seem to be giving voice in opposition to prior generations – have had the vote for longer than two decades then CHANGE THE STATUS QUO. Voting for that long? You are complicit by now in the outcomes. By definition.
Yeah, like voting for Trump over Biden is better than voting for Biden over Trump.
Nothing to change there, it’s like choosing to be shot vs gassed to death. End result is the same.
Your quote ” The issue is institutional…” Now this is correct, and what I posted above is an example of that.
As far as the 70 year old woman on the porch, is she the one who wrote the story below? Old goat sounds a bit ungrateful to me. Probably living on a pension paid by taxpayers that she feels entitled to, but wouldn’t support for her younger peers as long as she gets what is hers. I know her type. The type that supports a two-tier wage system. It’s bad enough she feels that way, but to then nag and complain, well, go pound salt.
FOR SALE: My White Privilege Card, it’s a little over 70 years old, but in like new condition. It has never been used, I want to sell it because it’s not done me any good…..No free college, No free food, No free housing, No free anything. Truth is I had to work very hard while paying an incredible amount of taxes in order to carry those who chose not to work. If you’re interested I’ll accept cash but I prefer an even trade for a new or used Race Card which is more widely accepted and comes with unending benefits.
Human nature is a bitch. I always say that on here for a reason. Whatever group has the largest voting bloc, will always take advantage of the others. It’s no different than the most powerful groups taking advantage of the other groups. Has happened every single moment in human history. Life will never be fair. So don’t feel bad when in a position of power to take advantage of it, every other f’er on this planet would do it to you. Don’t think twice about human nature.
There are good people out there. I consider myself one of them. I just understand that most people are not like me. I choose to be a good person, therefore can’t cry about all the bad people out there. Not going to change these individuals. They are who they are…selfish me first individuals who want to take advantage of you. Just try your best to build your life so they can’t take advantage of you…aka get rich. You don’t want to be rich because you can buy a big house, you want to get rich because it provides you the freedom of not having to suck some selfish asshole’s dick to survive.
The major impact of Ukraine War so far: started a new nuclear age of power. So many countries are turning to nuclear power now.
We didn’t need a war to figure that one out. We just needed to stop believing these pipe dreams of wind and solar powering our grid.
“Yeah, like voting for Trump over Biden is better than voting for Biden over Trump.”
It would have been. As would voting Bernie as well…during election season I was painted into a far right box with people openly laughing when I said if Bernie ran I would have voted for him…it’s not about the individual candidate, or even their ideologies, it’s about [uprooting] the system. The RNC and DNC truly don’t care who their candidates are, so long as they abide the Party line. One who doesn’t regardless of background? The Parties react like cat tossed into a full bathtub.
“Old goat sounds a bit ungrateful to me…I know her type…It’s bad enough she feels that way, but to then nag and complain, well, go pound salt.”
First, bit of projection there, no? Attributing thoughts to another and then criticizing that person for the thoughts you put on them?
Secondly, isn’t she you? Literally? Has a lifestyle she sees slipping, feels unempowered to stop it, feels her workload exceeds others’ while receiving less compensation…
Listen, more than one of us – me included – come on here to vent and if ‘thanks boomer’ is your outlet at the end of a day I’ll stop. If not….
You’re just not factually correct. Most of your issues really ramp from legislation starting with the Great Society (1965) through the mid-80s. In 1965 the vast majority of boomers weren’t even born (the oldest was two years old) and in the mid-80s only the oldest of them were just getting the vote…
More importantly, the opportunity for change by those dissatisfied who currently have the vote has never been greater…the percentage of people identifying as independents is twice the percentage of the early 60s, never has news and opinion dissemination been easier (in the 1960s news only existed if any of one of three networks, five wire services, or six newspapers said it did), and organizing has never been easier (in the 1960s it was face-to-face, a party line telephone, or a local ad).
I say this to everyone younger than I am…it’s your world. Not mine. And never has it been easier or more ripe for you – personally – to become part of something with a real likelihood of affecting your own outcome on a national level.
Or (the generic) you can continue to be a finger pointing, lever pulling monkey complaining about your current situation and expecting someone else to change it to your liking, and only by way of processes and candidates that out-of-the-gate meet all the qualifications and expectations you lay down.
Your choice.
Left: I would have voted for Bernie too, as I said during the election cycle he would have scared the crap out of the two parties and the vested interests. People had this opportunity and failed to act on it.
Trump is/was an annoying failure. He could have been different, but he wasn’t.
His B.S. and constant lying was/is insulting to most people’s basic intellect.
And none of it matters anyway….the ‘spy’ balloons are aliens probing us, and our single star is on the fritz….
https://www.firstpost.com/world/huge-portion-of-the-sun-breaks-off-from-the-surface-swirls-around-its-north-pole-12135482.html/amp
Fuck. When you wrote “North Pole” I reflexively assumed ……. Of the earth.
Phx: The comment about the race card was in response to this article.
MORE ON:
SHOPLIFTING
Retailers busting thieves with facial-recognition tech used by MSG’s James Dolan
NYC man arrested for shoplifting dies in custody: NYPD
NYC retail workers tell tales of city’s soaring shoplifting
Shoplifting hit record highs in NYC last year
The author of the “1619 Project” complained that drug stores locking up merchandise is “demeaning” — even as shoplifting continues to skyrocket to record highs.
The New York Times’ Nikole Hannah-Jones whined Tuesday that the safeguards — which aim to stave off theft — make for a “terrible shopping experience.”
“If you’re going to lock up everything in the drug store, an already demeaning shopping experience, at least have enough workers to open up the cases for all the customers who just need a razor,” she tweeted.
“It can’t be a financial winner. I spend a lot less because I’m not waiting every time I need to grab something from a different aisle or even a different shelf in the same aisle. You can’t read labels, etc. I’ve literally walked away. It’s just a terrible shopping experience.”
Ironic that you label GenX 1965-1980 (AKA The Forgotten Generation) as Boomers. We are the ones that have had to fight for everything.
“Dislike Murphy but pulled the lever for him” I have more respect for that person that I do for you. That’s someone that looked at that Far Right box and said “Hell No!”
Yes people laughed at you saying you would vote for Bernie. That’s because we know you. If you are that unhappy with what that GOP have become, go reclaim your party. As I have always said its not the Dems job to pander to you.
The biggest voting issue in this county are the 100+million disenfranchised or apathetic. They need to vote. For or against, it does not mater. No Vote, means the Status Quo stays. They need to know they are being held accountable and not to be complacent. That $2000 truck driver sent the perfect message. I’m all for that even if he is a republican.
Back from a trip to Canada. Here a few observations.
Weed is everywhere. Even the border has a big sign saying don’t import back to the states.
The don’t really care about the balloons.
There is no snow. From the border all the way down it was 45 degree weather. No wind so you don’t even need a coat to get out of the car.
Good news: Superintendent sc hm uck sch muck Dr. Triantafillos Parlapanides stepped down on Saturday.
Probably there long enough to get a taxpayer funded pension, however.
Can’t win ’em all.
Bernie-
Yeah, if he was an actual Presidential candidate someone would have put ricin in his mittens and claimed he died of a heart attack.
The “institution” would never accept him. He would be “Epsteined.”
America truly needs rank choice voting.
Ironic that you label GenX 1965-1980 (AKA The Forgotten Generation) as Boomers. We are the ones that have had to fight for everything.
Correct. Boomers were much sooner. 1946-1964.
“Senate Majority Leader Chuck Schumer revealed on Sunday that US officials believe the two unknown objects shot down over Alaska and Canada were indeed some kind of balloons. And despite admitting it was ‘wild’ US intelligence did not know about China’s spy balloon program until recently, he took a victory lap and claimed China was ‘humiliated’ by the US taking the aircraft down over the Atlantic.”
I’m sure the Chinese are just sooooooo humiliated.
“Experts believe a Chinese satellite fired down green laser beams that were seen over Hawaii last month.”
Chinese taping 500 Alibaba laser pens to a balloon and scaring Americans with it.
Raise the fears-jack up the paranoia-stoke the fires of hate.
Phoenix: Ross Perot was the last serious challenge to the corrupt 2 party system. As I noted I would have voted for Bernie, and were he to run again and actually get the nomination, I would vote for him.
As for the Democrats who claim they are the kinder, gentler party, it’s a bunch of nonsense. They use those marginalized people for their own ends, not because they truly care. They don’t want the poor and lower income people in their towns or in their schools, many would have not like be happy if their child came out as Gay, or married a minority. I was at a holiday party, upper west side in December, hosted by a friend of mine for years, he is most certainly Liberal, but not a hypocrite. At the party was his doorman who he had invited. He told me he had a few of his guests, ask him, why he was there, since he was a mere doorman. They could not understand why he would be friends with someone like that. My friend politely set them straight. I had a fascinating conversation with the Doorman, and how he and his parents who owned a small farm in Nicaragua, and lost it to the Sandinista regime.
Phoenix says:
February 11, 2023 at 3:03 pm
“…anesthesiologist…quietly came up behind me and said something to the effect of ” Maybe for someone who looks like you, boy.” He was African-American. ”
Interesting story, but as pointed out by others, a non-sequitur as a response to the 70-year old offering to sell his white privilege card. To the point made by the 70-year old, US taxpayers have spent $100 trillion on gov programs since the mid-60’s (or thereabout; not a specific cost number), in a well-intentioned effort to ‘level the playing field’ and address the unfairness that your colleague pointed out. But while that certainly hasn’t resulted in a ‘Great Society’, it’s given us a parade of race-baiting charlatans and Dem politicians who continue to pander to them. So while you’ll never get me to defend the boomers (and I’m a tail-ender), the essence of the 70-year old’s message is spot-on.
Phoenix: Then there is the tail end boomers, or Generation Jones.
Phoenix says:
February 12, 2023 at 7:27 am
“Yeah, like voting for Trump over Biden is better than voting for Biden over Trump. Nothing to change there…”
So far off the mark, it’s laughable. I won’t even get into the tangible ways in which the T presidency was better and more accomplished that the B disaster, but Trump is, literally, the one person who is NOT like all the other DC swampers. All you need to do is look at how violently the swamp rose up against him, to know that he’s not ‘the same’.
And since Fab has offered a bit of a travelogue, I’ll drop a recommendation that both Reps and Dems will appreciate…If travelling on 287 in central jersey, make the 5-minute detour to Joe’s Meat Market in South Bound Brook for a sandwich. Owned by an 18-year old kid who’s killing it — recently on DDD. Stopped yesterday for the first time — good food, good portions, good prices. Really nice kid; looked like mom and dad working the counter for him — highly recommended.
but Trump is, literally, the one person who is NOT like all the other DC swampers.
Different, yes, better?
Better in some areas, yes, better in other areas, not so much.
Not a DC swamper- yes.
Biden to me is beyond horrible. But Trump to me wasn’t good at all.
Since Trump isn’t in, we don’t really know if things would have been better under his “leadership.” All we know for a fact is that Biden is at best worthless/brain dead.
I had no faith in either. I did vote for Ross Perot. Remember a story that his family was threatened-or something like that which caused him to drop out. Picked the strangest character to be Vice President-basically an albatross around his neck.
As Left pointed out, it’s an institution. Going to get 2 losers to choose from, or one that pretends to be a winner (Obama) who basically lets bankers escape when they should have been sent to Guantanamo Bay.
Sorry, but I don’t have faith in any of that system anymore. Nor am I scared about Chinese balloons floating over the USA. It’s all a distraction from the grand theft that is occurring.
Trump wasn’t like the others he was worse. His dime-store Camelot play stunk to high heaven.
Go Iggles!!
Trump is for sure a world class a-hole, but he hasn’t done anything as remotely comparable to invading a country. Those same people who did so snicker at him as if they have some sort of moral high ground on him.
I was in Buck Co. yesterday buying a few goodies. Yeah, that’s where I shop now. They give me bags and straws. And in general, people are just more pleasant and happy there. But the Eagles gear was off the charts. 75% of people wearing it on a Saturday.
A fourth flying object has been shot down!!
“Ironic that you label GenX 1965-1980 (AKA The Forgotten Generation) as Boomers.”
LOL my bad. No coffee.
“Dislike Murphy but pulled the lever for him…I have more respect for that person that I do for you.”
Yaawwwn. The day will never come I seek or care of your respect.
“Yes people laughed at you saying you would vote for Bernie. That’s because we know you. If you are that unhappy with what that GOP have become, go reclaim your party.”
150th time for your reading impairment, not my party.
A fourth flying object has been shot down!!
Weakest administration in our lifetimes. They’re feeble, asleep at the switch, outdated, out of touch, discarded, expired, effete and impotent. China is humiliating us and telling us we’re weak… that we’re done as a power. Perception is reality and the reality is that we’re cowering.
6:19 again you have it twisted.
Looking like ‘Over’ may have been the bet lol.
Boy I missed reading Fastee’s criticisms. I neglected this blog too long. Hope all is well with everyone.
Chiefs will come back from 21-27. -:)
Thank God the shit eagles lost.
“Yaawwwn. The day will never come I seek or care of your respect.”
Likewise.
You sure? Because we know the Dems are REALLY not you party. So work out where you sit and let us know!
@ Fast Eddie, February 12, 2023 at 6:19 pm
Re “perception is reality”
Whoever promotes the meme “perception is reality” is psychologically incoherent and is, wittingly or unwittingly, spreading destructive self-defeating propaganda.
The MISLEADING FAKE mantra of “perception is reality” is a product of a fake sick culture that has indoctrinated its “dumbed down” (therefore TRULY ignorant, therefore easy to control) people with many such manipulative slogans.
You can find the proof that perception is commonly NOT reality in the article “The 2 Married Pink Elephants In The Historical Room –The Holocaustal Covid-19 Coronavirus Madness: A Sociological Perspective & Historical Assessment Of The Covid “Phenomenon”” …. https://www.rolf-hefti.com/covid-19-coronavirus.html
“Separate what you know from what you THINK you know.” — Unknown
““We’re all in this together” is a tribal maxim. Even there, it’s a con, because the tribal leaders use it to enforce loyalty and submission. … The unity of compliance.” — Jon Rappoport, Investigative Journalist
“2 weeks to flatten the curve has turned into…3 shots to feed your family!” — Unknown