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Case Shiller for March - Prices drop by 18.7%

Started by pulaski
over 17 years ago
Posts: 824
Member since: Mar 2009
Discussion about
http://www.nytimes.com/2009/05/27/business/economy/27home.html?_r=1&em "New York and Detroit, which both showed large monthly declines in March, show the different legacies of the boom. Prices in New York are still up 73.4 percent from January 2000, while those in Detroit are 29 percent lower. A Detroit house costs about the same today as it did 14 years ago." Link to CS statement: http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_052619.pdf That second chart sure looks like a bell curve and has some ways to go.
Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

Does not include Manhattan.

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

Money mag also estimated that the NYC region would bottom in 2011 (one of the last in the country). It called that some markets bottomed already, so this isn't a total bear thing.

We've got ways to go.

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Response by alpine292
over 17 years ago
Posts: 2771
Member since: Jun 2008

Money mag is crap. The truth is that you can find an "expert" to say anything you want. This morning I read an NJ expert predict that the bottom will be in the secod half of 09.

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

Money mag didn't find a bullsh*t expert to say it, they calculated it off a number of factors (incomes, job losses, etc.).

But you knew that. You just don't want anyone else to know that.

And what the hell is a "NJ expert"?

Someone who likes sewage?

Seriously, alpine, tell me you aren't this dumb.

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