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US: House Prices Falling At A Greater Pace Then The Great Depression
2008-06-05 19:09:00 The house prices, in the US are falling at a great pace. The latest S&P/Case-Shiller national house-price index, published this week, showed a slump of 14.1% in the year to the first quarter, the worst since the index began 20 years ago. Robert Shiller, the co-inventor of the index has created a version of index that stretches back over a century. According to this version of index, the downfall in the real estate market, in the US, is already bigger than the lowest point of deflationary in 1932 where it was at 10.5%.The downfall, at such a steep rate, in the real estate market is on one side a welcome scenario for people in the US, because it would now be easy to own a house but on the other side it may not be a very healthy sign for the US economy.
Global House Prices: Where?s Hot and Where?s Not
2008-06-02 20:47:00 The latest Knight Frank Global House Price Index 2008 has just been released, revealing some interesting and alarming facts. While the West continues to crumble, new markets have emerged and grow stronger by the minute. The global real estate doom has caused a massive drop in real estate property values from Japan to Ireland and ...
CMHC reports that Growth in house prices will slow as housing market become
2008-05-29 19:57:00 Growth in house prices will slow as housing market becomes more balancedFor 2008, the demand will moderate.Existing home sales, as measured bythe Multiple Listing service (MLS®),are expected to decrease by 8.5 percent to 475,900 units. In 2009, thetrend will be similar with anotherdecrease to 465,000 units (-2.3 percent). MLS® sales will step back givena moderating ...
Decline In House Prices Accelerates In First Quarter
2008-05-22 17:16:00 Sharpest Declines in California, Nevada and Florida; Small Price Increases in Strongest Markets U.S. home prices fell in the first quarter of 2008 according to OFHEO?s seasonally-adjusted purchase-only house price index. The index, which is based on data from home sales, was 1.7 percent lower on a seasonally-adjusted basis in the first quarter than in the fourth ...
Even A-listers are feeling the effects of falling house prices
2008-05-22 09:15:00 Hollywood bust as celebrities feel the credit crunch Dido may be able to play the piano and the violin, but coping with the Hollywood property market has meant a little fine-tuning for the mistress of hotel-foyer melodies. The 36-year-old British singer has become the latest celebrity to take a hit as high-end houses in America show ...
Why house prices rise or fall
2008-05-12 17:00:00 During the housing boom a few years ago, it didn?t matter if the door was painted raspberry red or electric yellow, most houses were surging in value.
Average UK House Prices Gadget
2008-05-10 19:04:00 if(showGadget){document.write("-[inline]");}[/inline]Google Gadget Description:Displays average house price trends for England and Wales. Select your town, city or region. Data is updated monthly from the official figures from the England and Wales land registeryAuthor:Felix MoodAdd to iGoogle | Add to your webpage | View Source | About Author
House Prices Continue to Rise
2008-05-01 14:49:00 Just read this article on VOCM.com discussing the increase in house prices in St. John’s and surrounding areas. Notice the jump in house price from $151,000 to $180,000 for a 1000 sqft bungalow home in St. John’s. House Prices Continue to Rise: Survey May 1, 2008 A new survey shows house prices in the province continue ...
Comparing Fort McMurray house prices to St. John?s
2008-04-22 12:49:00 I was delving deeper into my Filogix MLS Real Estate system to investigate some features I’ve yet to explore. I discovered we have access to “inter real estate boards” listings and stats. The first on the drop down tab was Fort McMurray homes for sale, so I decided to check it out. Floored at ...
London House Prices Down 15%
2008-04-17 00:35:00 Anything can be done with statistics but it's a shocker of a headline.The manager of one of the UK's largest estate agents has issued a gloomy projection for the future of London's housing market.Mark Anderson of Hamptons said that he perceives that prices in the capital have already slumped by 15 per cent, having hit "unsustainable levels" at its peak during last summer.Mr Anderson said the falls had not shown up in housing market indices yet because these tend to be based on mortgage approvals rather than completions.
By: Secret-Teachings
Sterling following UK house prices down
2008-04-16 22:15:00 Moneycorp the foreign currency specialists report that house prices influenced Sterling yet again. This time is was the Halifax reporting a 2.5 per cent fall between February and March. Like the Nationwide two week ago, HBOS referred to the massive rise in house prices over the last ten years; 171 per cent they reckon. Also in common with Nationwide, HBOS omitted to expand on that observation. They could have been pointing out that the "modest (low single digit)" decline they expect this year will be a mere gnat-bite on the gains made previously. Or they could have been drawing attention to a price bubble. We were left to guess.
Congressional Budget Office report: house prices expected to continue to de
2008-04-14 04:11:00 According to a new report by the Congressional Budget Office, all these proposed bailout plans would reduce the number of foreclosures but won’t do much to prevent home prices declines to continue. Read the whole report here. The housing markets and financial markets are both in the midst of severe adjustments. House prices are falling rapidly, ...
By: National Bubble
Airport to drive up house prices in Spain
2008-04-03 02:00:00 The Spanish city of Murcia could be set for a property boom once its revamped airport is up and running, experts have suggested. According to the Telegraph, Corvera Airport is currently undergoing a major upgrade and should be fully operational in two years time. The newspaper believes that the opening of the facility could lead to growth in the local property market, as the introduction of new flights should boost international interest in the region. However, house prices in Murcia are currently much cheaper than in many other parts of Spain. This means that people who enter the market early could stand to collect considerable returns when the market experiences its anticipated growth. The Telegraph observed: "Property prices in certain 'emerging' parts of Spain compare favourably with newer rivals such as Cape Verde and Bulgaria." According to A Place in the Sun magazine, Spain is currently the most popular location among overseas property buyers in the UK.
Government Plans for Mortgage Industry May Help House Prices
2008-04-01 07:00:00 Not only Northern Rock sold off its mortgages to international financiers as securities backed by assets, but nearly all UK banks have used the global marketplace to locate cheap funding. Approximately 25% of all UK mortgages were financed with the sale of mortgage backed bonds. Approximately 200 billion worth of UK mortgaged-backed bonds are currently ...
By: Resources zone
Paulson warns US house prices must plunge
2008-03-27 00:06:00 The US Treasury Secretary gave warning today that there is more pain ahead in the American housing market after he said prices must be allowed to drop before the economy can stabilise.It emerged yesterday that house prices in 20 US cities had declined by 10.7 per cent in the 12 months to January ? the worst fall in more than 20 years.
By: Secret-Teachings
High house prices drive FTBs overseas
2008-03-26 01:00:00 High house prices and economic problems in the UK are leading to many first-time buyers (FTBs) looking abroad, a study has found.Fair Investment Company revealed that nearly one in ten FTBs have already bought their first property overseas, while 44 per cent of thinking of doing so.The firm highlighted a number of reasons for people choosing to look away from home, such as the impact of the credit crunch on the British housing market.However, issues including the availability of property in the UK and the effect this has had on prices were flagged up as other factors behind this trend.James Caldwell, director of Fair Investment Company, commented: "Overseas they can sometimes find cheaper property prices and a lower cost of living."He added that this could make a first home more affordable, while still enabling people to enjoy a high quality of life.According to Paul Collins of the BuyAssociation website, high-growth markets are proving to be very popular with this group because hou...
House prices
2008-03-14 20:39:00 I've been thinking, read that as stressing, about house prices a lot lately. Are they dropping? and if there are, are they going to keep on dropping? There is no way to know the correct answer. If we weren't going to Portugal the price of our house would be immaterial as we'd never be moving, but we are going to be selling eventually, and the price we gets affects what we buy over there. At the moment houses in our village are not selling very quickly and I check the property websites nearly every day and they don't seem to be selling much either.Dh tells me not to worry as we still have over 4 years yet and a lot can happen in that 4 years, so as of today I'm going cold turkey on the property sites and not looking at them. I'm going to concentrate on the thing that is in my control and that's our house. I can get it looking so great that it'll sell like lemons on pancake day (sorry that was the first thing I thought of!)I'm going to create a plan and a budget this weekend ...
By: Move to Portugal
House Prices Fall Again In February
2008-03-03 08:31:00 The latest survey published by Nationwide Building Society confirms that house prices yet again fell in February by 0.5%.
A Comparison of Calgary House Prices to the US Real Estate Market
2008-02-28 06:40:00 A couple of conclusions can be reached by examining Calgary real estate prices to the US real estate market: The Calgary real estate boom occurred 1 to 2 years after the US boom Calgary house prices have increased by more than most American cities The precipitous drop in Calgary real estate in late 2007 is comparable to some of the most ...
Bay Vista Estates House Prices for 2007
2008-02-26 23:38:00 Bay Vista Estates is located in the Dr Phillips section of the Orlando real estate market. There has been 5 single family houses sold in 2007. They sold for prices ranging from $400,000 to $1,350,000 with 4 of them having pools and they ranged in size from 2,604 square feet to 6.187 square feet with the last one closing on 9/28/07. They took an average of 62 days before they sold. There are presently 0 houses that are pending closing. There are 14 houses on the market. They range in size from 2,038 square feet to 4,200 square feet with asking prices from $300,000 to $1,200,000 and 12 of them also have pools. Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 34 months. This is higher than the average with the rest of the Orlando real estate market. If any additional information is r...
Brentwood Club House Prices for 2007
2008-02-26 20:38:00 Brentwood Club is located in the Dr Phillips section of the Orlando real estate market. There has been 3 single family houses sold in 2007. They sold for prices ranging from $550,000 to $750,000 with all of them having pools and they ranged in size from 2,880 square feet to 4,097 square feet with the last one closing on 10/12/07. They took an average of 72 days before they sold. There are presently 0 houses that are pending closing. There are 4 houses on the market. They range in size from 2,870 square feet to 4,981 square feet with asking prices from $529,900 to $1,149,000 and 2 of them also have pools. Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 16 months. This is lower than the average with the rest of the Orlando real estate market. If any additional information is r...
Long Term Relationship Between Calgary House Prices and Alberta Economic Ac
2008-02-25 04:17:00 The price of houses is linked to the economic well-being of the region. Recently, the Alberta economy has been extremely strong and Calgary house prices have increased tremendously. But the question remains, did house prices increase rationally in comparison to economic growth? A comparison of house prices and GDP per capita show that they roughly track ...
House Prices Still Cooling
2008-02-12 10:13:00 Recent figures produced by the DCLG (Department for Communities and Local Government) suggest that annual house price inflation is continuing to fall.
House Prices On The Decline
2008-02-05 12:30:00 December 2007 marked the beginning of the downward trend in property prices when the average house price fell by 0.4%. Despite slight price increases in 3 individual regions of England and Wales, the recent fall in overall UK property prices was said to be the first drop the Land Registry has actually recorded since August 2005. Economists have taken this decline to be a clear indication of a weakening within the property market.
Shiller on House Prices
2008-02-03 12:30:00 From Calculated Risk: . . I would also like to share with you an email and a series of charts I received from a reader named Kirk: Hello IrvineRenter, I thought you might find these charts interesting. I made them from the following sources: Case-Shiller Housing Price Index for Los Angeles: http://www2.standardandpoors.co-m/portal/site/sp/en/us/page.top-ic/indices_csmahp/0,0,0,0,0,0,0-,0,0,1,1,0,0,0,0,0.html Effective Federal Funds Rate, 3 Month Treasury Yield, 10 Year Treasury ...
Bulgarian House Prices 'Went up Last Year'
2008-01-22 01:00:00 Property in Bulgaria continued to rise in value at a rapid rate in 2007, a media outlet has revealed.The Novinite news agency collected figures from real estate agencies across the country and worked out that the average price of residential property went up by 18.6 per cent last year.However, a number of regional variations were highlighted in places such as Varna, which saw particularly strong growth over the course of the year.Property values in the city were found to be 19 per cent higher than in 2006 - an increase that is above the national average.In addition, Varna was rated as the most expensive place in which to purchase a Bulgarian residential property.This comes after figures in the Global Property Guide revealed that during 2007, Bulgaria experienced the highest rate of house price inflation in the world.
Rents Mirror House Prices
2008-01-19 18:03:00 One would think that with so many people waiting on the sidelines to buy a house and with so many others losing their houses that population demand would cause rent prices to increase. In the most bubblicious areas of the country, the opposite is happening. Rents are decreasing.That gives you an idea of exactly how overbuilt some areas of the country are.Vacancies have risen in 29 markets in the fourth quarter of 2007, including Las Vegas, Palm Beach, Memphis, Orange County, Calif., and Orlando, according to Reis Inc., a New York real-estate research firm. Ron Witten, a Dallas-based housing analyst, estimates there are 760,000 vacant condos and homes for sale nationwide beyond what the market could normally carry, in addition to a surplus of 350,000 vacant rental properties.Speculative building and investing have contributed to this problem. Remember that investors were buying multiple properties at a time with no exit strategy. California flopper Casey Serin purchased 8 ...
REIWA Reports Increase in Perth House Prices
2008-01-11 01:00:00 Property prices in Perth, Australia, recorded gains of 1.1 per cent in value during the final quarter of 2007, it has emerged.Demonstrating the area to be a profitable investment for property buyers, the price hike also followed a 1.3 per cent rise recorded in the third quarter of last year, according to research by the Real Estate Institute of Western Australia (REIWA).Despite the impact of the global credit squeeze which has caused a market slowdown at a suburb level, no wholesale downturn has occurred despite the gloomy predictions of some property commentators over the last 12 months, commented Rob Druitt, president of the REIWA."Clearly the Perth market is very resilient. And why wouldn't it be with [western Australia] continuing to lead the country in terms of business investment, exports, employment and population growth?," he added.Strong population growth is expected to maintain consumer demand for sale or renting at current levels during 2008, Mr Druitt said.REIWA is the ...
Energy prices up, house prices down -> Bank rates stay flat
2008-01-10 21:45:00 Viewpoint 1: The Central Bankers are going to be earning their money this year. Viewpoint 2: The economy may as well be run by Roly Mo from the Fimbles for all the difference the BoE’s going to be able to make this year. Yup - stagflation seems to be with us. Prices are going up, but consumption’s ...
House Prices Drop Ł22K In Three Months
2008-01-09 14:13:00 The housing market is slowing, with homes in London dropping Ł22K in the three months ending December, 2007, according to the Royal Institution of Chartered Surveyors (RICS).
Bargain house prices
2008-01-09 12:46:00 If you’re looking for a house in the UK at the moment, it’s pretty much the ideal time with lots of bargains around. Usually to get a “bargain” you need to look for something well off the beaten track or needing some work done to it but at the moment that, for the most part, doesn’t ...
UK house prices in ?going up in December shock?
2008-01-09 11:56:00 According to a report in the Motley Fool, average house prices went up 1.3% in December, having gone down in September, October and November. The fool are quick to point out that most analysts see this as a temporary blip, rather than a turn-around. With the Bank of England’s Monetary Policy Committee due to have its monthly ...
Lower Interest Rates Will Not Help House Prices
2008-01-03 14:32:00 House prices fell for the second month in December, a sign that the market is cooling off, Nationwide Building Society said recently.
House Prices Drop In 2008
2008-01-02 10:51:00 House prices fell by 0.5 percent in December, following an 0.8 percent drop in November, according to the Nationwide Building Society, one of the largest mortgage lending firms.
Turkish house prices 'may grow significantly'
2007-12-31 00:00:00 Investors in the Turkish housing market could be set to benefit from significant increases in property values.According to Foreign Property Buyer, the ongoing negotiations regarding Turkey's entry into the European Union could be beneficial for overseas investors.The website stated that since talks on its possible accession were already underway, the country offered "immense potential" for capital appreciation.This, combined with the possibility of earning rental income from people such as holidaymakers, could make a Turkish investment highly lucrative.Foreign Property Buyer added that Britons accounted for the largest group of overseas investors in Turkey, with many opting for new-build homes.The country was described as a "land of promise" for second home owners, as it was a growing market that offered culture, leisure attractions and easy access from the UK.Meanwhile, the Turkish Statistics Institute has revealed that the number of foreign leisure travellers arriving in Turkey h...
Realtors report 5.4% drop in November house prices
2007-12-29 04:09:00 The California Association of Realtors’ latest price report shows local house prices fell 5.4% in November from the year before. That’s a bigger price decline than the 0.7 percent reported for November by DataQuick, although both indexes reflect similar trends. CAR pegged the median price of an existing single-family home in Orange County at $661,580, down from $699,200 in November 2006. On Dec. 18, DataQuick reported a median of $655,000 last month for existing single-family homes, down from $659,750 a year earlier. Both indexes reported sales volume declines from the year before. CAR reported that house sales fell 36.8% in November; DataQuick reported a decrease of 49.1%. More recent figures from DataQuick showed a slight uptick in house sales during a four-week period that includes the first 10 days of December. See that post HERE. Here are single-family home median prices for the past 13 months from CAR and from DataQuick: Month CAR DQ Nov-06 $699,200 $659,750 Dec...
Realtors report 5.4% drop in November house prices
2007-12-29 04:09:00 The California Association of Realtors’ latest price report shows local house prices fell 5.4% in November from the year before. That’s a bigger price decline than the 0.7 percent reported for November by DataQuick, although both indexes reflect similar trends. CAR pegged the median price of an existing single-family home in Orange County at $661,580, down from $699,200 in November 2006. On Dec. 18, DataQuick reported a median of $655,000 last month for existing single-family homes, down from $659,750 a year earlier. Both indexes reported sales volume declines from the year before. CAR reported that house sales fell 36.8% in November; DataQuick reported a decrease of 49.1%. More recent figures from DataQuick showed a slight uptick in house sales during a four-week period that includes the first 10 days of December. See that post HERE. Here are single-family home median prices for the past 13 months from CAR and from DataQuick: Month CAR DQ Nov-06 $699,200 $659,750 Dec-06 $...
NYC Metro House Prices Averaged 4.1% Decline In '07 As Of October
2007-12-28 00:35:00 S&P/Case-Shiller® Home Price Indices - October '07by Standard & Poor's - snip:Data through October 2007, released today by Standard & Poor?s for its S&P/Case-Shiller® Home Price Indices, the leading measure of U.S. home prices, show broadbased declines in the prices of existing single family homes across the United States, marking the 10th consecutive month of negative annual returns and the 23rd consecutive month of decelerating returns. The 10-City Composite?s annual decline of 6.7% is a record low. The previous largest decline on record was 6.3% recorded in April 1991. In October, the 20-City Composite recorded an annual decline of 6.1%. ?No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,? says Robert J. Shiller, Chief Economist at MacroMarkets LLC. ?Not only did the 10-City Composite post a record low in its annual growth rate, but 11 of the 20 metro areas did the same. If you look at th...
Bad News For UK House Prices
2007-12-10 10:28:00 UK house prices fell for the third consecutive month in November according to data released by Halifax. According to the UK’s largest mortgage lender, home prices fell by 1.1% for the month, following declines of .5% in October and .6% in September. The rate of housing price increases for the full year had fallen to 6.3% through November. That’s down from a high of 11.4% in August and 8.9% in October. The housing news has been highlighted in major media outlets recently, including the BBC and The Guardian.
House prices to grow in Italy
2007-12-07 00:00:00 Overseas property investors in Italy could be set to benefit from a property boom, according to an expert.Speaking to the International Herald Tribune, real estate agent Marco Tirelli said that improvements to the transport network were likely to have a significant effect on house prices in the affected areas....
House prices to grow in Italy
2007-12-07 00:00:00 Overseas property investors in Italy could be set to benefit from a property boom, according to an expert.Speaking to the International Herald Tribune, real estate agent Marco Tirelli said that improvements to the transport network were likely to have a significant effect on house prices in the affected areas....
House prices to grow in Italy
2007-12-07 00:00:00 Overseas property investors in Italy could be set to benefit from a property boom, according to an expert.Speaking to the International Herald Tribune, real estate agent Marco Tirelli said that improvements to the transport network were likely to have a significant effect on house prices in the affected areas....
Sub Prime Crisis Not To Blame For Falling House Prices
2007-12-03 13:46:00 UK house price indicators show reductions in house prices with figures from Nationwide, Halifax, Hometrack, and Rightmove are showing falling prices. A common misconception is that the sub prime market and credit crunch is to blame for this downturn. A look under the surface will reveal that there is not one source to blame. One economics expert spreads new light on the plight of the UK housing market.
Is Bigger Really Better? Lot sizes and house prices
2007-12-02 21:35:00 June Fletcher, a reporter with the Wall Street Journal Online, has the following article discussing lot sizes: Question: My wife and I live in Silicon Valley, and we're looking to trade up to a single-family home from our condo. In terms of future capital appreciation, is it better to purchase a newer, larger home on a tiny lot (3,000 square feet and under) or is it better to buy an older, smaller home with a larger lot (8,000 square feet-plus) with room to expand? Most new homes in the Valley are built on very small lots.- Tony Lee, San Jose, Calif. Tony: Remember that old song, "Give me land, lots of land in the country that I love?" There's a reason the cowboys sang it. From the standpoint of flexibility, it usually makes sense to go for the most land you can get. And that's doubly true in Silicon Valley, where lots are scarce and vacant land suitable for building often sells for more than $1 million an acre. Older homes can be remodeled a...
Defaults and House Prices
2007-12-02 12:30:00 I found this blog entry on Calculated Risk. If you did not see it, it brilliantly and concisely demonstrates the problems facing the market in the foreseeable future. From Calculated Risk: In the ’90s, as prices fell in California, foreclosure activity (using Notice of Defaults NODs) increased. Prices bottomed in 1996, as foreclosure activity peaked. Now imagine what ...
HOUSE PRICES WEAKEN FURTHER IN MOST RECENT QUARTER
2007-11-29 16:34:00 HOUSE PRICES WEAKEN FURTHER IN MOST RECENT QUARTER First Quarterly Price Decline for U.S. since 1994 Washington , DC ? For the first time in nearly thirteen years, U.S. (...)
House Prices And Mortgage Numbers Down
2007-11-29 10:23:00 Housing information group Hometrack says that the average cost of a home in England and Wales fell back by 0.2% in November, to Ł175,700. This was the second month in a row that Hometrack reported a fall, this one being 0.1% down on October's figure, and taking the annual rate of house price inflation down to just 3.6% - the lowest level since July 2006.
Bankers Artificially Pushed Up House Prices
2007-11-28 10:23:00 The average home in England and Wales costs Ł183,896, according to the Land Registry. The cost of property has been rising dramatically since 2005. The Land Registry reports a 15% increase in the cost of a home since October 2005.
Greek Islands Low House Prices Attract British Investor
2007-11-27 08:10:00 In the past 10 years more than 2,000 Britons have purchased homes on Cephalonia, and there are about 2,500 British homeowners on Zakynthos. Paxos, a smaller island, has drawn interest from those who like its slower pace of life and Ithaca has become a recent target of international investors. Overall, prices on the islands are rising at a considerable rate, above 15% annually, so it is a good time to buy
"Will House Prices Always Rise in the Long Term?" by rubble
2007-11-26 13:57:00 Hi Phil, Well, that's why there's a comments section after all! The Government's projection for immigration has been well publicised, but all they appear to have done is taken the figures for the past few years and calculated what would happen if immigration continued at that rate. A similar prediction was made in the 60's and that has turned out to be very far wide of the mark. There are lots of reasons why immigration probably will not continue at the rate the Government expects. Currently, Britain is attractive to immigrants because of our strong economy. But the fall-out from the credit crunch is likely to damage that, making Britan a less attractive choice. Added to that is the fact that the economies of the eastern European countries are strengthening in their own right. So rather than believe the Government's projections, let's stick to what we know about current demographics. On oil, the movement in the Pound/Dollar exchange rate (or the Dollar Index for that ...
By: Housing Rubble
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