tag:blogger.com,1999:blog-13164186.post1198771094743865267..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: S&P/Case-Shiller: House prices down 16.6% year over yearDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-13164186.post-42269269765311145912008-12-03T11:39:00.000-05:002008-12-03T11:39:00.000-05:00The best leading indicator of price is supply dema...The best leading indicator of price is supply demand. With the pace of sales showing an 8 1/2 year supply, prices will plummet. This is not a balanced market.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-89640437676312969852008-12-02T12:40:00.000-05:002008-12-02T12:40:00.000-05:00Janet is right that prices are up.The question is ...Janet is right that prices are up.<BR/>The question is why? <BR/><BR/>Her numbers also show that volume is down. It could be that larger homes are selling while current ones stagnate. It could be that newer condos are selling in some formerly untouched neighborhoods, those that had ancient housing stock.<BR/><BR/>That being said, I doubt this is long-term trend. If you want to figure out where things are headed, look at the leading indicators, such as the unsold inventory particulary for condos. It is not accurately reflected on MRIS since many large condo projects simply don't list all their available inventory, which is just a game of angles, mirrors and bullsh*t. WaPost reported 8 1/2 years of condo inventory, which is certainly an unbalanced market.<BR/><BR/>The only way prices will remain stable is through a lot of inflation. In real terms, the only way this market is headed is down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-45054652582319126272008-12-02T12:15:00.000-05:002008-12-02T12:15:00.000-05:00"Even projects in flourishing neighborhoods are st..."Even projects in flourishing neighborhoods are struggling."<BR/><BR/><BR/>There's your "trend," janet.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-32412704699954049772008-12-02T11:39:00.000-05:002008-12-02T11:39:00.000-05:00hahahahahahahahahahaha....wooohooo!"Two stops nort...hahahahahahahahahahaha....wooohooo!<BR/><BR/>"Two stops north on the Red line, residents of Fort Totten were thrilled when a developer swept in with talk of condominiums and rentals, a supermarket, shops and restaurants. <BR/><BR/>Now, Lowe executives talk of affordable housing. The chances of a supermarket seem more remote. Meanwhile, two plots of land in the middle of the community sit lifeless, surrounded by a chain-link fence. <BR/><BR/>"They've created an eyesore," said Willie Jenkins, a retired bus driver, standing outside a KFC, among the neighborhood's only restaurants. "Where's the economic development they promised?<BR/><BR/>"Even projects in flourishing neighborhoods are struggling."<BR/><BR/>http://www.washingtonpost.com/wp-dyn/content/article/2008/12/01/AR2008120103101_3.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-62767842318838040702008-12-01T01:43:00.000-05:002008-12-01T01:43:00.000-05:00Now janet, anon has given enough data to start see...Now janet, anon has given enough data to start seeing a trend. Are prices indicating a trend up, down or flat? Can we gather enough other data, such as dollar volume, units sold, DOM? If so, would those indicators trend up, down or flatroberthttps://www.blogger.com/profile/10354810363004791622noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-68808322255779556132008-11-30T18:50:00.000-05:002008-11-30T18:50:00.000-05:00Robert is right - one month isnt a trend - 10 mont...Robert is right - one month isnt a trend - 10 months is. Lets see what the median price trend is in DC in 2008<BR/><BR/>Jan +11.17<BR/>Feb +6.43<BR/>Mar -8.06<BR/>Apr +4.53<BR/>May +5.01<BR/>Jun +2.41<BR/>Jul -2.05<BR/>Aug +0.00<BR/>Sep +3.97<BR/>Oct +0.43<BR/><BR/>SUCK IT BUBBLE HEADS - BWAHAHAHAHAHAHAHA!!!!!!!!!!<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>.<BR/>BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-11945765798804132502008-11-29T16:21:00.000-05:002008-11-29T16:21:00.000-05:00Average is directly proportional to number of sale...Average is directly proportional to number of sales. If you can do simple math, you will see that 2008 has a half million dollar loss, or 1 whole house less for the year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1256744045686850022008-11-28T16:34:00.000-05:002008-11-28T16:34:00.000-05:00"Ignorance is think one month a trend makes."Poorl..."Ignorance is think one month a trend makes."<BR/><BR/>Poorly stated.<BR/><BR/>It is a year-to-year trend. See where it says "2007"? And do you see how it also says "2008"? <BR/><BR/>Those are two different years, bobby.<BR/><BR/>That means the trend is year to year.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-24624565247299913662008-11-28T15:58:00.000-05:002008-11-28T15:58:00.000-05:00Anonymous said... Super ignorant comment there rob...<I>Anonymous said... <BR/>Super ignorant comment there robert.</I><BR/><BR/>Ignorance is think one month a trend makes.roberthttps://www.blogger.com/profile/10354810363004791622noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-91808688422927674542008-11-28T15:57:00.000-05:002008-11-28T15:57:00.000-05:00dammit, janet said... Robert? That is a year-to-ye...<I>dammit, janet said... <BR/>Robert? That is a year-to-year trend.</I><BR/><BR/>Uhh, no janet. Key word here is <I>trend</I>.roberthttps://www.blogger.com/profile/10354810363004791622noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-58384052583079840542008-11-27T15:48:00.000-05:002008-11-27T15:48:00.000-05:00Robert said...."Super one month trend there janet....<I>Robert said....<BR/>"Super one month trend there janet."</I><BR/><BR/>Super ignorant comment there robert.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-51542450118692336012008-11-26T14:01:00.000-05:002008-11-26T14:01:00.000-05:00Robert? That is a year-to-year trend.Robert? That is a year-to-year trend.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-33062260258719013112008-11-26T13:33:00.000-05:002008-11-26T13:33:00.000-05:00dammit, janet said... This was posted below and is...<I>dammit, janet said... <BR/>This was posted below and is verifiable at mris.com:</I><BR/><BR/>Super one month trend there janet.roberthttps://www.blogger.com/profile/10354810363004791622noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-80014184601353291152008-11-26T12:45:00.000-05:002008-11-26T12:45:00.000-05:00"Your fear and anger makes me happy."It was a face..."Your fear and anger makes me happy."<BR/><BR/>It was a facetious posting. <BR/><BR/>Your ignorance perplexes me. I guess I'm not stupid enough to understand.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-61057900332460455732008-11-26T12:02:00.000-05:002008-11-26T12:02:00.000-05:00Your fear and anger makes me happy.Your fear and anger makes me happy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-33445304180727993232008-11-26T11:06:00.000-05:002008-11-26T11:06:00.000-05:00"Average Sold Price:2008 = $558,8162007 = $499,526...<I>"Average Sold Price:<BR/>2008 = $558,816<BR/>2007 = $499,526<BR/>Percent change = +11.87%"</I><BR/><BR/>no. no. No. NO. NO! NO!NO!NO!NO!NO!<BR/><BR/>It just can't be! It isn't possible! My eyes are burning! My face is melting!!! Dear God, make this evil apparition vanish from the Earth, in the name of all that is HOLY!<BR/><BR/>GAAAAHHHH!!!! {gurgle}Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-74257058561212482082008-11-26T10:57:00.000-05:002008-11-26T10:57:00.000-05:00"hahahahahahaha...De-Nile, or is it Denial, janet?..."hahahahahahaha...De-Nile, or is it Denial, janet?"<BR/><BR/>=<BR/><BR/>Too biased and ignorant to look into the facts. Interestingly, a look at the facts proves that the author of the slop above is the one in denial.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-155293187488448962008-11-26T10:52:00.000-05:002008-11-26T10:52:00.000-05:00This was posted below and is verifiable at mris.co...This was posted below and is verifiable at mris.com:<BR/><BR/>October 2008 real estate statistics for Washington, DC. (That means Washington, DC, not Virginia and/or Maryland)<BR/><BR/>Total Dollar Volume Sold:<BR/>2008 = $231,350,012<BR/>2007 = $231,780,273<BR/>Percent change = -0.19%<BR/><BR/>Average Sold Price:<BR/>2008 = $558,816<BR/>2007 = $499,526<BR/>Percent change = +11.87%<BR/><BR/>Median Sold Price:<BR/>2008 = $394,450<BR/>2007 = $392,750<BR/>Percent change = +0.43 %<BR/><BR/>Total units sold:<BR/>2008 = 414<BR/>2007 = 464<BR/>Percent change = -10.78%<BR/><BR/>Average days on market:<BR/>2008 = 77<BR/>2007 = 62<BR/>Percent change = +24.19%<BR/><BR/>Average list price for Solds:<BR/>2008 = $603,004<BR/>2007 = $525,126<BR/>Percent change = + 14.83%Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-13084090924171099292008-11-26T10:33:00.000-05:002008-11-26T10:33:00.000-05:00Janet, let me guess - DC proper?Janet, let me guess - DC proper?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-83966629422555730372008-11-26T10:21:00.000-05:002008-11-26T10:21:00.000-05:00hahahahahahaha...De-Nile, or is it Denial, janet?hahahahahahaha...De-Nile, or is it Denial, janet?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-60698349080532403802008-11-26T09:31:00.000-05:002008-11-26T09:31:00.000-05:00I can point to recent valid stats pertaining to a ...I can point to recent valid stats pertaining to a specific local market that show a YoY sales price increase despite decreased sales volume and increased DOM. <BR/><BR/>But to keep it interesting on a slow day, I'll invite people to look for themselves: www.mris.comAnonymousnoreply@blogger.com