Like so many other epic bubble years’ housing market explosion epicenters, Las Vegas real estate caught fire again pushing prices up 30% YoY vs the 10% national average. This statement alone should raise a plethora of red flags to anybody remotely familiar with the sector. But to new-era residential housing “investors”, who have serious selective, [...]
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– Case-Shiller & Pendings Consensus opinion vs data continue to diverge at record speeds – In the context of “Post-Crash” — 6-years of ZIRP, trillions of QE, 6 million loan mods, and outlawing foreclosures — the data are underwhelming, especially 2013 YoY, which shows clear deceleration – “New-era” housing investors treating housing as high-yield or high-PE dividend [...]
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Lots of superficial analysis and misdirection is being presented in the blogosphere recently over the “rise” in “conventional”, or “organic” sales, as proof positive the housing market is in full blown recovery mode amidst several months running of weaker YoY housing market reports in legacy distressed / “early stage recovery” regions such as Vegas, Phoenix, [...]
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Since the great crash I have always said the same thing about a housing “bottom”. That is, “it will happen when nobody is looking for it; when my Uncle Jack isn’t bragging at Thanksgiving dinner about how much money he made ‘flipping’ houses; when people treat houses as ‘shelter’ and not a speculative ‘trade’; and [...]
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