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Get ready for a lot of BS

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April 28, 2009 – Comments (8)

case shiller 2009 Feb

Realtors, naive biz journalists, and others are sure to try and spin this as the bottom in home prices. It's not. Not even close. We're still heading downhill at nearly 20% year over year. Cut that rate in half (we haven't) and you're still talking major equity losses for buyers now.

If you're buying a home now, you need to figure this into your bid. What should you offer? See this chart.

case shiller 2009 Feb2

Full release here.

8 Comments – Post Your Own

#1) On April 28, 2009 at 11:41 AM, portefeuille (99.44) wrote:

In the fall of 1972 President Nixon announced that the rate of increase of inflation was decreasing. This was the first time a sitting president used the third derivative to advance his case for reelection.

(taken from here)

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#2) On April 28, 2009 at 12:13 PM, TMEBenBenBen (< 20) wrote:

Thank you for the clear and concise info!

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#3) On April 28, 2009 at 4:23 PM, ibarz (93.20) wrote:

By most metrics, prices are still overvalued, just not ridiculously so. I see a few bottom fishers who try to snap up these properties because they were 40-50% less than the peak. How much it sold before has zero factor how much its worth now...

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#4) On April 29, 2009 at 3:38 AM, kaskoosek (92.29) wrote:

Third derivative?

 

I thought it was second.

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#5) On April 29, 2009 at 3:51 AM, portefeuille (99.44) wrote:

inflation is the first derivative of price!

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#6) On April 29, 2009 at 4:31 AM, kaskoosek (92.29) wrote:

Portfeuille

You are right, but crazy article.

This is utter lunacy, I was amazed that some one would point out such a stupid measure.

 

 

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#7) On April 29, 2009 at 4:53 AM, kaskoosek (92.29) wrote:

Who talks about stable prices anymore.

We have never had an inflation rate of zero.

It seems that a stable inflation is now the norm.

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#8) On April 29, 2009 at 9:51 AM, portefeuille (99.44) wrote:

Nixon was crazy, was he not?

Or who where you talking about?

I am not that familiar with Nixon (not my time or country (or continent)).

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