Shiller: "Striking Improvement"

great article! A positive prediction coming from Dr. Gloom and Doom is not somethign that the SE bears should sweep under the rug.

"Striking improvement IN THE RATE OF DECLINE." Not news.

is that the best spin you have? Shiller predicted that housing is bottoming.

No spin. That is your chosen path. I merely gave the rest of the quoted clause to make sure nobody was accidentally mislead into thinking that the value of real estate was actually improving.

"A positive prediction coming from Dr. Gloom and Doom is not somethign that the SE bears should sweep under the rug. "

Genius.... Dr. Doom is roubini. This is a, well, different guy.
That you think that ever bear is the same person might explain a few things..

Second, this might be great for you in New Jersey, alpine.... but remmber we're still a few years behind. So a slow in the decline nationally still means a lousy couple of years for us here.

and it is funny to see the actual data...

"The index decreased 18.1 percent from a year earlier following an 18.7 percent drop in March. Economists predicted the index would drop 18.6 percent"

Yes, we ONLY fell 18.1%! Not 18.6%! Crisis averted!

I thought Peter Schiff is Dr. Doom:

http://money.cnn.com/2009/01/20/magazines/fortune/okeefe_schiff.fortune/index.htm

Although I don't think Schiff has a PhD so I can't see how he can have the prefix "Dr."

The NY housing recession is over.

I guess Schiff, Roubini, and Shiller need to decide who is going to be the official "Dr. Doom." LOL

Shiller: "Home Prices No Longer in Bubble Situation" and "Quite a Reduction in Pace of Fall"

http://www.bloomberg.com/avp/avp.htm?N=av&T=Shiller%20Says%20Home%20Prices%20No%20Longer%20in%20%60Bubble%20Situation'&clipSRC=mms://media2.bloomberg.com/cache/v9f8LDqVArqo.asf

Manhattan / Brooklyn RE isnt even close to being done dropping.FiDi alone could crush everything

July should be an interesting month for the stock market. Frankly we could go either way. Momentum has definitely slowed and we are in typically bearish months. I still feel we re-test March lows and that will kill this little RE boomlet. Employment numbers are horrible. This is a good article about the true unemployment picture and it ain't pretty:

http://www.tnr.com/politics/story.html?id=ff352956-a17d-4d80-895a-8f1c28b6351e

And we have prime mortgages(like those made to Manhattanites) falling into foreclosure at an increasing rate:

http://www.bloomberg.com/apps/news?pid=20601206&sid=aZaaKZlwiKFE

This makes sense for NYC. RE markets in the worst hit areas have bottomed but their crashes have had a domino effect on the rest of the economy, stock market included. NYC was relatively immune until Wall Street stumbled. Our RE market is in the early stages of its bear run. It is the natural course of this and past corrections.

wonderboy: how old are you again? is this your first recession?