{"id":196261,"date":"2008-05-13T05:00:00","date_gmt":"2008-05-13T10:00:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/13\/american-housing-map-of-misery-economist-com\/"},"modified":"2008-05-13T05:00:00","modified_gmt":"2008-05-13T10:00:00","slug":"american-housing-map-of-misery-economist-com","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/13\/american-housing-map-of-misery-economist-com\/","title":{"rendered":"American housing | Map of misery | Economist.com"},"content":{"rendered":"<p>The Economist is suggesting that, &#8220;<a href=\"http:\/\/www.economist.com\/finance\/displaystory.cfm?story_id=11333030\">America may well be only halfway through the house-price bust<\/a>&#8220;.<\/p>\n<p>They lead off with the scary picture:<br \/><img decoding=\"async\" src=\"http:\/\/pic60.picturetrail.com\/VOL1689\/10590113\/19633101\/317141719.jpg\" \/><br \/>Though I would note that this is now almost 6 month old data, so there would be a lot more red now.<\/p>\n<p>They make the obvious point, that the delta in house prices is still not clear, with a number of different ways of measuring, with OFHEO covering sales financed by the GSEs, and the two different Schiller numbers.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/pic60.picturetrail.com\/VOL1689\/10590113\/19633101\/317142017.jpg\" \/><br \/>Note that the gray area is projected, and I think that they ignore the possibility of overshoot in the buy\/rent ratio.<\/p>\n<p>They note the fact that banks are still tightening standards at an unprecedented rate, which will push house prices down, but they neglect to mention that the 5-6% fixed rate mortgage is historically low, and that if there is a return to the 9% rate, we would see even further downward pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Economist is suggesting that, &#8220;America may well be only halfway through the house-price bust&#8220;. They lead off with the scary picture:Though I would note that this is now almost 6 month old data, so there would be a lot more red now. They make the obvious point, that the delta in house prices is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1088],"tags":[],"class_list":["post-196261","post","type-post","status-publish","format-standard","hentry","category-economy","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196261"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196261"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196261\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}