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karhu

Us Housing Market Continues To Slide

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BOSTON (AFX) -- Analysts at Credit Suisse First Boston on Wednesday said their monthly survey revealed the housing market continued its downward adjustment in November, noting that while "it is difficult to get a definitive read on a market during the slow winter months . . . prices are climbing in only select markets and price points, incentives are more prevalent than is seasonally typical, and demand from investors is abating or shifting to lower cost areas like Texas." As several markets cool off, "it appears that the ramifications of the speculative euphoria in 2004 and 2005 are starting to materialize, as inventories have crept up concurrent with slowing home price appreciation," the analysts wrote in a research note. "With interest rates on the rise and mortgage scrutiny gaining traction, we expect the market to continue its downward adjustment, but should know with more certainty after the seasonally slow winter months," CSFB said.

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Thought you might like this too:

Housing Bubble Bursts in U.S. Mortgage Bond Market

In the U.S. bond market, the housing bubble has burst.

Bonds backed by home loans to the riskiest borrowers, the fastest growing part of the $7.6 trillion mortgage market, have lost about 2.5 percent since September on concern an 18-month rise in interest rates may force more than 150,000 consumers to default.

We've been hearing about risks of a house price bubble, easy credit and loans to borrowers that really don't qualify, and now in the last couple of months we're starting to see things turn for the worse,'' said Joseph Auth, a bond fund manager who helps oversee $135 billion at Standish Mellon Asset Management in Boston. ``We don't know if it's going to be a hard or soft landing.''

Found this above article courtesy of the Urban Survival Daily Newsletter which is always a good read.

Edited by jimmy

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http://news.rgj.com/apps/pbcs.dll/article?.../512020374/1083

The report seems to be mixed, but IMHO signs of a pop just the same.

The median price for a condo slid 14.1 percent to $177,000, down from $205,950, the MLS reported.
Carson City's median fell 5.6 percent from September, to $305,000. The average hit $335,789. Sales volume fell to 54 homes sold, down from 74 in September.

And the I have a dream quote.

"I'm hopeful that it will turn around in spring."

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  • 302 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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