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Standard & Poor's/Case-Shiller home price values for January, released this morning (March 26), show San Diego County values rising 9.8% over the last year, topping the average of 8.1% for the 20 largest metro areas. However, from December to January, local values dropped 0.6%, comparing poorly with the rise of 0.1% by the 20-metro average. On a year-over-year basis, the 20-composite index posted its largest percentage gain since 2006. San Diego home values are now down 34.7% from the 2005 peak.

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jnojr March 26, 2013 @ 8:05 a.m.

Let's remove all of the artificial stimuli and see how "strong" housing is without massive supports.


Don Bauder March 26, 2013 @ 9:38 a.m.

jnojr: You are quite right. The stock market is similar: it is being propped up by easy money and government/Federal Reserve policy designed to run up stocks. Even though I am still buying stocks, I am worried about a bubble. In fact, stocks ARE a bubble if you look at the state of the economy in 2007 compared with today. Yes, profits are high, but that is partly financial engineering -- companies borrowing money at incredibly low rates and buying back their own stock, thus artificially boosting earnings per share and thus the stock price. Trouble is: even if stocks are a bubble, where do you put your money? Thanks to the Fed's manipulated, extremely low interest rates, cash is dead money and bonds are almost so. Best, Don Bauder


tomjohnston March 26, 2013 @ 8:51 a.m.

Don Bauder, The Residential Real Estate Indicators report should be released later today. How about giving us a summary of that as report well.


Don Bauder March 26, 2013 @ 9:39 a.m.

tomjohnston: I will try to remember. I have a lot on my plate today. Best, Don Bauder


MURPHYJUNK March 26, 2013 @ 8:57 a.m.

What percentage of the rise in price is due to realtors commissions ?


Don Bauder March 26, 2013 @ 9:41 a.m.

Murphyjunk: Commissions are obviously part of the price rise, but the overwhelming factor is the low interest rate level. I don't know if commissions are factored out of the Case-Shiller numbers. I don't think it would make much difference. Best, Don Bauder


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