tag:blogger.com,1999:blog-13164186.post7996192512217116269..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: Fiserv: Home prices to resume declineDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-13164186.post-46526036951326121682009-10-21T19:52:12.615-04:002009-10-21T19:52:12.615-04:00I agree with anon at 10:58. I live in College Par...I agree with anon at 10:58. I live in College Park, and we're WAY ahead of, say Bethesda in percentage price reductions.- Jim AAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-71538789305836570352009-10-20T19:27:46.702-04:002009-10-20T19:27:46.702-04:00The median household income for the DC metro area ...The median household income for the DC metro area is about 100k. Historically, the median home price of the DC metro has been a multiple of 2.8 times the median income. After doing the math, you arrive at a median home value of $280,000. However, the current median value of a home in the DC metro area is $388,000. Consequently, if history is to serve as a gauge for values, there is more room for price declines.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-84137321502088925052009-10-20T19:18:51.434-04:002009-10-20T19:18:51.434-04:00Anonymous said...
"Sadly - they are forecasti...Anonymous said...<br /><i>"Sadly - they are forecasting DC area prices going up +5.6% next year. Sigh..."</i><br /><br />For the DC area, it looks to me like they're predicting an annual decline of 11.5% from the latest known Case-Shiller data, followed by +5.6 from mid-2010 until mid-2011.<br /><br />Down 11.5%, followed by up 5.6% still leaves you down 6.544% over two years.Jameshttps://www.blogger.com/profile/15243567377599238583noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-70750867357615017812009-10-20T18:09:08.828-04:002009-10-20T18:09:08.828-04:00"wireknob said...
Looks like the projection ..."wireknob said... <br />Looks like the projection for the DC area is for prices to go up. "<br /><br />Yep - I got excited when I saw this forecast. I trusted Fiserv as they were bearish back in 05 before the downturn really started. Thus, I figured they were saying we (meaning DC area) had more to go.<br /><br />Sadly - they are forecasting DC area prices going up +5.6% next year. Sigh...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-90113668858485358512009-10-20T16:42:03.116-04:002009-10-20T16:42:03.116-04:00Looks like the projection for the DC area is for p...Looks like the projection for the DC area is for prices to go up. <br /><br />I agree with Anonymous@10:58, though, it all depends on price point and location, and things won't fall or rise uniformly. Averaging makes sense for a macro-economic analysis but it doesn't say much about particular situations.wireknobnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-50736100550946543582009-10-20T10:58:06.383-04:002009-10-20T10:58:06.383-04:00All that only means that higher priced homes will ...All that only means that higher priced homes will continue to decrease in value. But for lower priced home, like those 70% off PWC homes, how much more can they drop from here? In fact, lower priced homes have seem to find a bottom and they have attracted numerous bidders.<br /><br />It really doesn't make any sense to lump the housing market with an average price number. I agree that the average price will continue to trend down because lots of homes in the higher price range will go down, but those already hit hard are bottomed out. Every housing slump in the past was recovered like this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-41309809319647350812009-10-20T10:14:11.422-04:002009-10-20T10:14:11.422-04:00In San Antonio we've had a 10% decrease in sal...In San Antonio we've had a 10% decrease in sales vs. a year ago with the avg price being $182,441.San Antonio Real Estatehttp://www.lizvossrealestate.comnoreply@blogger.com