CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Sunday, March 29, 2009
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- Supply and Demand in Action, Part I
- The 50 Best (Worst?) Pun Store Names
- Florida Home Sales Increase for 6th Straight Month
- Markets in Everything: Free, Open Textbooks
- Feb Housing Affordability Hits Another Record High
- Salaries of Central Bank Governors
- Real Disposable Personal Income Grows by 2.2%
- Mortgage Rates Drop to Record Low 4.85%
- Mexico: The New Dental Destination; 70% Savings
- iTunes: Variable Pricing to Replace 99¢ Pricing
3 Comments:
Now if prices start inching back up, I may never actually go underwater on my Mesa, AZ house. I'm just glad I bought in Feb 2003, and not a year or two later.
On an inflation adjusted basis, homes prices have fallen 33% from the peak in 2005. The below chart shows single family home prices are now back in a range that existed from the late 1970s into the mid-1990s.
Chart of the Day notes, "...a home buyer who bought the median priced single-family home at the 1979 peak has actually seen that home lose value (1.6% loss). Not an impressive performance considering that nearly three decades have passed."
http://seekingalpha.com/article/128305-home-prices-from-the-70s-a-good-investment?source=feed
In today's headlines U.S. January home prices drop record 19 percent the media continues to scream "the price is falling, the price is falling!"
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