My City Talk column today is about the slight year-over-year increase in Savannah metro area home prices and the likelihood that we could see prices change relatively little for an extended period of time. I cite Zillow’s latest estimates for…
Tag: Home Prices
A generation from now, will enough buyers want homes in America’s suburbs?
Americans are driving less — a trend that started in 2005, before the recession. We’re increasingly seeing young American adults opt for living in places that provide a variety of transportation options, especially cities with significant infrastructure for bicycling and walking.
So what happens over the next decade or two, as aging suburbanites need to sell their homes? Will younger middle-class and upper middle-class Americans buy those homes in the numbers that will be necessary?
Home prices continue rebound — but still only back to level of a decade ago
There were some very strong numbers released this morning for the S&P/Case-Shiller Home Price Indices. In addition to the monthly data for the 10- and 20-city composite indices, we also got the national index, which is updated quarterly. All of…
Housing’s long hangover: 42% of Georgia mortgages still underwater
From the AJC’s More than 40 percent of Georgia homes are underwater: “The nationwide data, complied by Zillow at the end of last year, identified the worst 1 percent of ZIP codes in terms of the percentage of mortgage holders who owe more than their homes are worth. Georgia has nearly a quarter of those ZIP codes, most of them arrayed in a crescent around Atlantaâ€™s southern flank. Michigan, the next hardest-hit state, has only half as many ZIP codes in the worst 1 percent.”
The housing bubble: who knew what when?
There’s a really interesting post by James Hamilton at Econbrowser that explores a central question of the housing bust: did those who were primarily responsible for making bad loans realize that they were making bad loans? In other words, did…
Sprawling Beaufort home from “The Big Chill” listed for sale
From The Beaufort Gazette/Island Packet’s Tidalholm, Beaufort’s ‘Big Chill House,’ for sale at $4.5 million: The historic Beaufort residence Tidalholm, well-known as the movie set for “The Big Chill,” is up for sale at a price of $4.5 million. The…
Case-Shiller: National home prices continue recovery, now back to 2003 (!) levels
From the S&P/Case-Shiller press release for home prices through December, Home Prices Closed Out a Strong 2012 According to the S&P/Case-Shiller Home Price Indices: Data through December 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price…
Calculated Risk: Key economic trends to watch
From one of Calculated Risk’s post last night: I’d like to mention a few key economic themes that I will write more about soon: â€¢ Residential investment (RI) has bottomed and is now contributing to economic growth. Since RI is…
Home prices in November up 5.5% from a year ago, according to Case-Shiller 20 city index
I expected house prices to bottom at some point in late 2012 or early 2013, but they bottomed last spring. Even with the usual seasonal declines this winter, it is exceedingly unlikely that prices will fall below their lows of the winter of 2011/2012.
October Case-Shiller data show “sustained recovery” in home prices
One of the big stories of 2012 has been the recovery in home prices across the nation. Home prices apparently bottomed in the spring: even if there is some considerable seasonal weakness this winter, it seems unlikely that home prices…
AJC: Foreclosures still plague Georgia
“Foreclosure sales in Georgia accounted for 38 percent of all residential sales in the state during the third quarter, according to a report released Thursday by RealtyTrac, the real estate research firm. Even though thatâ€™s a slight dip from the previous quarter, itâ€™s still the highest percentage in the nation.”
The case against the mortgage interest deduction
A little over 10 years ago, I was flying back from London and had a long, long conversation with the man seated next to me. I had been to London to interview actor Jonathan Rhys Meyers for a now defunct Savannah-based magazine, and my neighbor had been there to pick up a cache of rare Emerson, Lake, & Palmer albums. Some interesting conversation ensued.
Should you be buying or renting in the Savannah real estate market?
Zillow has come up with the “breakeven horizon” for 257 metro areas. That’s the point at which purchasing a home is more economical than renting an equivalent property.
Latest Case-Shiller home price data shows solidifying market
More good news from Case-Shiller today, with both composite indices and the national index showing solid year-over-year increases.