THE PRAGMATIC CAPITALIST » » CHART OF THE DAY – HOME PRICES TO DECLINE UNTIL 2012?

CHART OF THE DAY – HOME PRICES TO DECLINE UNTIL 2012?

17 June 2009 by TPC 3 Comments

Great chart here from Bloomberg. This recession is so powerful that the usually invulnerable high end consumer might actually be at greater risk than the low end. The more expensive your home is the greater the likelihood of a prolonged price decline:

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3 Comments »

joe said:

TPC,

If you graph condos, there are 15 months of supply in many areas.

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# 17 June 2009 at 3:41 AM

TPC (author) said:

I haven’t seen that Joe. Do you have a link?

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# 17 June 2009 at 9:24 AM

tony said:

I watched Cramer Tues. night and it may be the last time I ever watch him. For the last year he has been calling for the bottom in housing on around July 1 and of course when there was a better than expected start in new homes being built, he called for his prediction to be right and that the bottom is now in. He says that inventories are now down and that prices are no longer going to fall. This made me very angry. He is telling his fans that the worst is over and wants to be so right on his call, that he will spin it any way that he can. I find it irresponsible and utterly wrong to say that until he sees further info. Everything that I read says that at the very minimun, the jury is still out on this especially when the jobless rate is still climbing. He is why I started liking the market but now I need sites like yours to improve my education. I can no longer respect Cramer’s opiniun. Thank you for your great website.