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Home Prices Surge Despite Distress

Home Prices Surge Despite Distress

sidfeinberg | Jan 15, 2013 10:38 AM ET You must buy now or you will be priced out forever The economy is booming and the high skilled, high income jobs being created are demanding upscale homes. Real estate went up 17% is most markets in 2012, look for a 20% increase in 2013.

LoganMohtashami | Jan 15, 2013 10:48 AM ET Bad reason for home rise For 2013: Home Prices will rise 2-5%. As long as the inventory of homes stays very low, home prices will rise. Home prices rising due to the clumsy housing inventory market isn’t long-term bullish because at some point this century mortgage rates will rise and Americans will be hitting their DTI limits faster. This will also take away more disposable income from the economy. We shouldn`t see another 20% drop in inventory, however inventory won’t be strong. There is a myth that millions of homeowners that were underwater this year are now positive and will be looking to sell. This will not occur in big numbers because homeowners who were in the 100 -110 LTV range whose homes appreciated 5-10% still wouldn`t have enough equity to sell their home, pay their real%

LoganMohtashami | Jan 15, 2013 10:51 AM ET estate agent and have anything left over for another home. Most likely we need 2 more years of 5-10% appreciation to get them off the sideline. Those who have 80-95 LTV could be in the pipeline to sell their home in 2013. So, don’t look for millions of organic sellers to come into the market in 2013. On another note % gains on low base inventory r is the worst reason for home prices to go up when you have such a strong cash (investor) buying presence. We have over 5.3 Million delinquent and foreclosed homes in process and housing starts from 2008-2012 is very light compared to historical measures going back to 1959. DTI reality going to hit this nation for the long term especially now with lending standards back to common sense. Logan Mohtashami

Yakov72 | Jan 15, 2013 10:56 AM ET Of course prices go up. You said it yourself, less distressed properties. People listen to the buzz around, look at their neighbors and friends. But, it`s the same ones as in 2005-2007, just different faces. It like the ones on a stock market who jump after the quarter report - just to find out they`ve bought 5% too high - because they very pleased - too bad not enough people shared their enthusiasm.

StormT | Jan 15, 2013 11:00 AM ET Go ahead and get in suckers............another classic PUMP & DUMP by Wall Street. Organic buyers........NOT!

bajamiguel | Jan 15, 2013 11:02 AM ET unemployment will remain high ...wages keep going down ..more pt workers then fulltime ...money printing @85 bill a month.. interest rates being held down ...the econ.is a head fake ....keep buying sheeple...don,t forget to pay list .......lmao

Lamington | Jan 15, 2013 11:03 AM ET We really are set up for monster gains... this market cannot be denied by any bad news whatsoever... you NEED TO BUY STOCKS NOW!!! Don`t be left in the dust!

GenerationX | Jan 15, 2013 11:08 AM ET The banks are sitting on massive foreclosure inventory, stopping foreclosure actions altogether. This housing market is not according to basic economic principles of higher wages leading to more demand for homes. Wages have stagnated for 40 years, and have even fallen for the past few years. Traditionally, in a normal economy, the price of new single family homes have always been 3 times median income. That would put prices at about $140,000. Obviously we do not have prices that low.

Mr.Clumpus | Jan 15, 2013 11:09 AM ET Home Prices Surge Despite Distress Diana, what stress? How can prices surge while there is stress? It makes no sense. You have been reduced to blathering in your effort to be negative. I understand that you are doing the Master`s bidding, but blathering is blathering.

BrianBallsofSteel | Jan 15, 2013 11:11 AM ET What is an organic buyer? Do they eat Granola?

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Home Prices Surge Despite Distress

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