Posted on 10/29/2013 7:13:46 AM PDT by whitedog57
S&P Case-Shiller house prices rose by 0.93% in August (MoM) and 12.82% (YoY), the biggest Year-over-Year rise since 2006.
csyoy
And the Case-Shiller 20 metro index is back to August 2008 levels.
spcs102913
Well, we know that it isnt households borrowing to purchase a home that is driving this bubble. Here is a chart from CoreLogic on Purchase Mortgage Credit Production. It remains low.
skfig1-purchasemortgage
And the MBA Purchase Application index (due out tomorrow) is similarly low (at 1995 levels).
mbapurchase1995
In fact, house prices are rising as mortgage purchase applications are falling.
csaugmbapurch
In terms of metro area price growth, Las Vegas, Los Angeles, San Diego and San Francisco all topped 20% YoY growth.
csmetyroaug2013
The leader on the Month-over-Month is Las Vegas. With Los Angeles close behind.
csmetronsaaug13
Class, can you spell bubble?
bigbubble
Particularly if The Fed ever stops printing.
Well, we may as well take advantage of their chicanery; this ain’t gonna last forever you know! The minute we have HONEST Politicians back in charge is when the poop will hit the propeller!
Any gains I’ve made these past 5 years have been immediately turned into hard assets: Less debt (paying off my farm, fast & furiously) ammo, survival supplies, more ammo, gold & silver, ammo, canned goods and ammo! :)
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