Signs point to reheating in housing market as home price gains stop slowdown

  • The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 3.2% annually in July, the same gain reported in June. Prices are still cooling in the largest cities, however.
  • The 10-City Composite rose 1.6% annually, down from 1.9% in the previous month. The 20-City Composite posted a 2% annual gain, down from 2.2% in June.
  • Seattle was the only city to show an annual price decline, down 0.6%. San Francisco, Los Angeles and New York were barely in the positive.

Overall, home price gains are strongest in the Southwest (Phoenix and Las Vegas) and Southeast (Charlotte and Tampa), with other cities posting solid gains. These include Minneapolis, up 4.2% annually, and Detroit, up 4.1%.

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So sell everything and buy Detroit. Got it.

Makes mucho sense to buy a home but lots of us already have a home and some cannot afford one but these folks can get their beaks wet buying vacant land in Southern California. An acre or two south of Pioneertown might only cost $20-30k for now but probably will increase dramatically in the next few years or sooner based on recent and past performance along with published regional and local forecasts. Check out Pioneertown on the NBC show Open House NYC, featured recently.

http://www.innoutrealestate.com/ExcessProperty.aspx

The nice thing is that the property tax in this hypothetical situation is low, perfect for holding long term.

Are there 50 acres land for sale? Need to buy one to build apartment :grinning:

I have 40 acres in Bakersfield for sale. 240 paper lots. $5m