The month-over-month change in our local Case-Shiller Index was positive in May, which is no surprise. It’s reflecting decisions made in February and March, which was about 5% ago.
But the M-O-M numbers are sliding downward quickly, and could be flat or negative as soon as next month.
Buyers will expect a break on price – will sellers give it to them? Probably not, and the market will probably hit stall speed for the rest of the year.
These are the Case-Shiller Index NSA changes below for San Diego:
| Month | ||
| Jan ’13 | ||
| Feb ’13 | ||
| March ’13 | ||
| April ’13 | ||
| May ’13 | ||
| June ’13 | ||
| July ’13 | ||
| August ’13 | ||
| September ’13 | ||
| October ’13 | ||
| November ’13 | ||
| December ’13 | ||
| January ’14 | ||
| February ’14 | ||
| March ’14 | ||
| April ’14 | ||
| May ’14 |
Something something obvious 8 months ago something prediction something….
There is no way they can stop printing money and if they do expect another great depression.
Leverage is back at ridiculous levels because they figure another bailout will occur if their bets go down the tubes.
Welcome to the bubble economy.
Wharton has weighed in on the Zillow/Trulia merger:
http://knowledge.wharton.upenn.edu/article/susan-wachterzillow-trulia/