Fourth Monthly Increase in Case-Shiller Price Index
Washington -- The Standard & Poor's/Case-Shiller home price index of 20 major cities rose only 0.3% to 144.96 in September, but it was the fourth straight monthly increase (see bottom chart above, first time since early 2006 of four consecutive increases). The seasonally adjusted index is now up more than 3% from its bottom in May, but still 30% below its peak in April 2006.
3 Comments:
Shiller thinks we're blowing up another housing bubble. But, I'm sure you will take that as a good sign, Professor. I really don't understand your optimism
Why do people say there will be a double-dip or another bubble blow-up?
Usually booms happen in periods of optimism. That is not the investing public's mood now (or homebuyer's mood).
There is some bargain-hunting going on, both in housing and stocks.
A pending global economic boom will left many boats. Asia is not waiting for us anymore. Europe is recovering.
Gloomy Gus was right in 2007. But maybe not in late 2009.
That is not a good looking chart. The last data point is not a positive development, from my POV.
Jeff
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