Schiller report doesn't reflect the truth of the housing market: analyst BK Capital President and Fast Money contributor Brian Kelly says in a CNBC video above that Standard & Poor's Case-Shiller U.S. National Home Price Index does not really reflect what's going on in the housing market. Kelly cites what he calls more up-to-date CoreLogic statistics, used in a Toll Brothers report, showing... [more]
Schiller report doesn't reflect the truth of the housing market: analyst
BK Capital President and Fast Money contributor Brian Kelly says in a CNBC video above that Standard & Poor's Case-Shiller U.S. National Home Price Index does not really reflect what's going on in the housing market. Kelly cites what he calls more up-to-date CoreLogic statistics, used in a Toll Brothers report, showing regular (non-distressed) home prices in New York, New Jersey and Washington, D.C. up 10 percent. He attributes a fall in prices to the distressed sales market.
"I'm not talking about another housing boom where you can start flipping houses," he said. "I'm just talking about the bottom in the housing market and not only that, when you look at the distressed sales that are going on, that's actually become a shrinking percentage. That has kind of stabilized for the first time since 2009, so you're starting to see things turn."
Toll Brothers, Kelly said, is in a great position to catch the housing boom, having inventory in urban areas.
Schiller's report today showS that U.S. home prices fell 4.2 percent in the first quarter of 2011. "Home prices continue on their downward spiral with no relief in sight," said David Blitzer, chairman of the index committee.
http://therealdeal.com/newyork/articles/schiller-report-doesn%E2%80%99t-reflect-the-truth-of-the-housing-market-analyst-brian-kelly[less]
Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008
PT cruiser owner shouldn't speak about things that cost more than $1k. Fk alpo, why don't you just stick with social/political bullshit that amounts to an air biscuit....
You want change, stfu and vote or make some money and be above the fray. It's Fking born USA Americans like you that beytch and moan, while naturalized us citizens like us buy 997tt and 50foot sailboats, and Fking make fun of your underachieving offsprings that'll redo my kid's roofs in 20 years.
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Response by JuiceMan
about 15 years ago
Posts: 3578
Member since: Aug 2007
Shocking I say. Shocking.
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Response by bgrfrank
about 15 years ago
Posts: 183
Member since: Apr 2010
I realize brokers as a group have an interest in telling you houses are going up or houses are low now. Filter that out and look at the trends. Lower prices on lower quality in the past few years and higher on higher quality in the past year.
PT cruiser owner shouldn't speak about things that cost more than $1k. Fk alpo, why don't you just stick with social/political bullshit that amounts to an air biscuit....
You want change, stfu and vote or make some money and be above the fray. It's Fking born USA Americans like you that beytch and moan, while naturalized us citizens like us buy 997tt and 50foot sailboats, and Fking make fun of your underachieving offsprings that'll redo my kid's roofs in 20 years.
Shocking I say. Shocking.
I realize brokers as a group have an interest in telling you houses are going up or houses are low now. Filter that out and look at the trends. Lower prices on lower quality in the past few years and higher on higher quality in the past year.