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Us- Home Prices Are Rising, And So Are Sales

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http://www.nytimes.com/2013/06/26/business/economy/home-sales-are-rising-and-so-are-prices.html?ref=business&_r=0

Mortgage rates may be inching up, but they have not put a damper on the American housing market rebound, according to figures released Tuesday that showed upward momentum in both prices and sales.

The Standard & Poor’s Case-Shiller home price index showed a 12 percent gain in prices in 20 cities from April 2012 to April 2013, the largest gain since early 2006, when home values began to slow in advance of the market collapse.

Stocks on Wall Street surged on a flurry of better-than-expected news, including increases in sales of new homes and consumer confidence. New homes were selling at a rate of 476,000 a year in May, up 2.1 percent from April, the Commerce Department reported.

The housing numbers continued a solidly higher trend of stronger sales, more construction and a dwindling number of homeowners who owe more on their mortgages than their homes are worth.

But a spike in interest rates after last week’s comments by Ben S. Bernanke, the chairman of the Federal Reserve, raised fears among some economists that higher mortgage costs could slow a revival that promised to infuse the economy with spending on big-ticket items like furniture and dishwashers.

Others argued that the housing recovery was driven more by an improving job market, pent-up demand and a severe shortage after so little was built during the recession.

Good to see pent up demand and a severe shortage of property being global, it appears the world is picking up advice from the global experts in property.

It appears that the recovery is coming....

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http://www.nytimes.c...f=business&_r=0

Good to see pent up demand and a severe shortage of property being global, it appears the world is picking up advice from the global experts in property.

It appears that the recovery is coming....

The demand is purely speculative, driven by QE subsidised mortgage rates. Prices up 10% yoy, 18% in two years while the number of one family housing starts has barely changed from 2009. Benny's Housing Bubble 2.0.

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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