Article

2011-05-31 Economy

'Double-Dip' in Housing Prices Even Worse Than Expected

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Posted by DarthVader 2011-05-31 11:26|| || Front Page|| [11138 views ] Top

#1 I guess AP didn't get the memo.

Consumer confidence falls unexpectedly in May

Posted by DarthVader 2011-05-31 12:13|| 2011-05-31 12:13|| Front Page Top

#2 Heh. The Washington Examiner has picked up on the Unexpectedly meme.

Posted by DarthVader 2011-05-31 14:10|| 2011-05-31 14:10|| Front Page Top

#3 Ah yes, unexpectedly

1. A term used by Donk shills to cover repeatedly for failure of their chosen one.
2. An indication that writers live in a very small cluster of contacts without any concept of the outside world.
3. Total ignorance on the subject matter.

Nothing precludes any combination of the above.

Posted by Procopius2k 2011-05-31 16:42|| 2011-05-31 16:42|| Front Page Top

#4 The most-listened to DC-area radio on the way home tonight said prices were back down to 2002 levels.

Grim.

Posted by Bobby 2011-05-31 18:03|| 2011-05-31 18:03|| Front Page Top

#5 For years and years and years they kept telling us that we need "affordable housing". But now when it really is starting to get a little more affordable they're squealing like stuck pigs. Odd.

Posted by Ebbang Uluque6305 2011-05-31 18:07|| 2011-05-31 18:07|| Front Page Top

#6 The press, as expected, demonstrates that is it in the tank for Obama.

This is what people call a buying opportunity if you are in the market and have credit.

Posted by The Other Beldar 2011-05-31 18:39|| 2011-05-31 18:39|| Front Page Top

#7 Exactly. This is the RECOVERY. House prices were far too high. The crazy thing is that people thought house inflation was a good thing!

Instapundit had this thing about saying the government tried to copy the status of middle class success with out understanding its causes... Higher House prices are a ONLY symptom of increasing middle class productivity/wages...

High house prices without any productivity increase is just inflation and a credit bubble trying to hide the damage done to the economy by taxation (including the ludicrously wrongly named "fair" tax).

Posted by Bright Pebbles 2011-05-31 18:47|| 2011-05-31 18:47|| Front Page Top

#8 Asset deflation is a good thing.

Not least because it transfers wealth from the unproductive rich to productive workers.

Posted by phil_b 2011-05-31 19:17|| 2011-05-31 19:17|| Front Page Top

#9 How is that Phil_B?
I love the idea of homes becoming more affordable, but the rich arent losing their primary residences to banks owned by...the rich.

Posted by bigjim-CA 2011-05-31 21:07|| 2011-05-31 21:07|| Front Page Top

#10 let the prices keep falling so we do have affordable a housing again....and boo hoo on those that took out second and third's to cover their toy's and vacations...the bubble was obvious ten years ago yet people keep on the binge...

Posted by dan 2011-05-31 21:58|| 2011-05-31 21:58|| Front Page Top

#11 Not everyone had a second or third mortgage. Some folks got divorced and ended up with a house they otherwise couldn't afford on a single salary but couldn't sell. A lot of people got screwed by this deflation and the cavalier attitude comes off as cold and ignorant.

Posted by rjschwarz 2011-05-31 22:20|| 2011-05-31 22:20|| Front Page Top

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