home prices up 12% in may

evince

evince

Truthmatters
http://money.msn.com/home-loans/news.aspx?feed=AP&date=20130730&id=16753691



WASHINGTON (AP) - U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening.

The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday also surged 2.4 percent in May from April. The month-over-month gain nearly matched the 2.6 percent increase in April from March — the highest on record.

The price increases were widespread. All 20 cities showed gains in May from April and compared with a year ago.

Prices in Dallas and Denver reached the highest level on records dating back to 2000. That marks the first time since the housing bust that any city has reached an all-time high.
 
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According to CNBC:

Homeownership in the United States fell to 65.1% in the second quarter to hit a 17-1/2-year low.


To me the question is should our government be promoting policies to push for home ownership? I used to be a strong yes answer to that question and now I've started to soften a little bit.
 
cawacko said:
According to CNBC:

Homeownership in the United States fell to 65.1% in the second quarter to hit a 17-1/2-year low.


To me the question is should our government be promoting policies to push for home ownership? I used to be a strong yes answer to that question and now I've started to soften a little bit.
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The answer is no. Canada does not and they avoided the housing crash
 
evince said:
so much for the American dream huh
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Do you consider our recent housing bubble the American dream? Do you want to bring back the banking and government policies which pushed home ownership to it's highest levels yet caused that bubble?

I fully support people wanting to purchase a home. I'm questioning the methods used to achieve the rate of ownership we achieved.
 
Home ownership is definitely starting to lose some of its luster as a key component of the American Dream.

Personally, I can't wait to rent again.
 
that happens when the right crashes the economy with their historically failed ideas.


why would you think its a good thing?
 
Dungheap said:
Home ownership as a core concept of "the American Dream" is bullshit. Home ownership isn't for everyone and the government shouldn't promote it uder the guise of some fictitious ideal.
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She won't respond to you.

A lot of hedge fund and investor money in California right now buying up single family homes and renting them out. There has been talk of spinning off single family REIT's which could or would compete with apartment REIT's. I guess it also remains to be seen how many people who lost their homes to foreclosures attempt to purchase again down the road.
 
cawacko said:
She won't respond to you.

A lot of hedge fund and investor money in California right now buying up single family homes and renting them out. There has been talk of spinning off single family REIT's which could or would compete with apartment REIT's. I guess it also remains to be seen how many people who lost their homes to foreclosures attempt to purchase again down the road.
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I think the management costs associated with large-scale single family home rentals will be problematic. Maybe they can do it, but I'm skeptical. If they're buying and renting with plans to sell in an up marktet, I think it makes sense, but the single family REIT thing strikes me as foolsih.
 
cawacko said:
Do you consider our recent housing bubble the American dream? Do you want to bring back the banking and government policies which pushed home ownership to it's highest levels yet caused that bubble?

I fully support people wanting to purchase a home. I'm questioning the methods used to achieve the rate of ownership we achieved.
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dude the banks cheated people.

did you forget that part?
 
Dungheap said:
I think the management costs associated with large-scale single family home rentals will be problematic. Maybe they can do it, but I'm skeptical. If they're buying and renting with plans to sell in an up marktet, I think it makes sense, but the single family REIT thing strikes me as foolsih.
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I had the same response as you to the single family REIT's. I've had several real estate guys explain to me how it could work but I still wasn't buying it. I understand the economies of scale you have in an apartment complex. For individual homes spread out from each other not as much.
 
cawacko said:
I had the same response as you to the single family REIT's. I've had several real estate guys explain to me how it could work but I still wasn't buying it. I understand the economies of scale you have in an apartment complex. For individual homes spread out from each other not as much.
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You can have developmental deals with single family, but I can't see taking it to the level of actually managing the properties and renting them out. Too problematic.
 
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