Real Estate Crash: How's Your City Doing? (SLIDESHOW)

businessinsider.com:

The rate of crash for real-estate prices nationwide has finally begun to moderate. Specifically, it dropped from -19% a year in March to -18% a year in April.

No, that's not much to celebrate. But it's a step in the right direction.

Read the whole story: businessinsider.com

Comments

[brownstoness]

FINANCIAL INDEPENDENCE DAY - STARVE THE BEAST

We're udnergoing a delveraging process. Expect the DJIA to bottom at 5000 or lower.

Americans are starting to come to their senses. The savings rate reached 6.9% last month,
the highest level in 15 years. This brought the level up to the long-term average. As usual,
the pundits on CNBC have concluded that now that we've reached the average, everything is
roses and the consumer can resume their free spending ways and save our economy. These fools
have no concept of history, averages or cycles. The savings rate has been in a downward
spiral for 30 years. Consumers have lost $14 trillion of net worth and 5,000 per day turn
65. Most people have miniscule retirement savings and 14.7 million are unemployed. The
savings rate will go up for the next two decades as people must save.

hat tip to: http://iamned.blogspot.com 4 the good articles

[Harrier]

You have a situation where nobody can move anywhere to work a job away from home because they cannot get a loan.

[jukesgrrl]

Where's the slideshow?

[Ametista]

You have to click on the article link, not the comments link.

[delta7777]

.
"slideshow" is a remarkably appropriate description of home prices.
(no need to refer to a series of pictures)
.

[1088]

People are coming in from out of state and are buying homes right here in Florida!

[tedthebuilder]

I wish President Obama would focus on the real issue of this whole economic melt down--the housing problem. I strongly believe that the Administration should place a moratorium on all foreclosures. This will stop the downward slide of home prices and allow builders to start building again, which in turn means hiring and placing orders to manufacturers. Its the fastest segment in the US economy which would recover very rapidly without needing billions of dollars and more tax payers money.

I say the banks received their bail out, now its time to bail out the American citizen. The US would back the loans, and the banks would have to renegotiate their mortgages so that the families could stay in their homes.

I look forward in other's responses. Thank you.

[gopSTEALSyourTAXmoney]

Get the Republicans out of office.
When they've been in power, their mandate
is to 'cut', 'cut', 'cut' budgets.
Starting with the Federal,
then down to State,
then down to County
and then, City budgets.
And when that happens, those people at the 'Planning and Zoning' department get
laid off, as well as Building and Safety personnel.
Then Cities are under budget constraints to issue only so many permits.
There goes the building industry.
I can't for the life of me, understand any Architects out there that would vote for Republicans!

[MarcusT]

Yes, by all means. Let's dump some more cash into a industry that died a natural death.

[noneIn2008]

Green shoots. Our decline is less worse than others. Today, this is the definition of success. My car gas tank is almost empty, but since I drive it less, it's rate of decline is now less. Soon it will be filling itself.

[dansup]

lousy, but thanks for asking

[rogerthat21]

We need to stop the corruption by Goldman, bank of Amerika, and Jp Morgan. Stop the Geithner and bernanke. .

Obama's policies may not be working as well as many had hoped:
1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%. Since May 2008, we have lost 5.5 million jobs. The biggest losers were:

Manufacturing 1.5 million lost
Finance & Prof Serv 1.5 million lost
Construction 1.1 million lost
Retail & Leisure 1.3 million lost

good political & economic articles: http://iamned.blogspot.com

[Delphine]

So you expected that policies that didn't take effect until February were going to stop the bleeding right away?

Imagine how much worse it would be if there had been NO stimulus and NO program to assist homebuyers and just a bunch of tax cuts for the wealthy.

The bailout was a huge waste of money put into effect under bush and carried out (poorly and without proper oversight) by both administrations.

More can and should be done.

I think it's funny the bush blamed the job losses and poor economy during his presidency on clinton's policies (and a slight downtick the month before he took office), but the right won't blame bush for the hellish mess we're in right now even though we were clearly in huge trouble months before Obama took office. It's all Obama's fault for not doing enough, or doing the wrong thing.

It takes months for large projects to get off the ground and hiring to start. Does more need to be done? YES. But it's too soon to assess the impact of what has been done.

[curiousasheck]

Oh it's incredible. My home just doubled in value in less then six months. And there are buyers everywhere making me offers for an additional 25% profit!