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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (402703)	7/29/2008 1:58:39 PM
From: combjelly	Read Replies (1) \| Respond to of 1576588

"He says he's going to balance the budget, without raising taxes, by the end of his first term." That depends on who he talks too. Sometimes it is the first term, sometimes it is the second. He flips back and forth.

To: Road Walker who wrote (402703)	7/29/2008 1:58:49 PM
From: tejek	Respond to of 1576588

This is what I meant when I posted earlier.......there is quite a difference between the Case numbers and the ones from the OFHEO. Case-Shiller vs OFHEO By Tony Crescenzi RealMoney.com Contributor 7/29/2008 1:15 PM EDT The Case-Shiller index on home prices was down 15.78% on a year-over-year basis in May, slightly better than forecasts for a drop of 16.0%. The drop stands in stark contrast to the 4.8% decline reported by the Office of Federal Housing and Oversight. The differences reflect a number of factors. For starters, OFHEO's index is broader, covering far more than the 20 metropolitan markets covered in the Case-Shiller index. Moreover, the 20 markets covered by Case-Shiller are those that have seen significant price volatility in recent years. A second factor is the fact that OFEHO's index contains only those homes that are financed by agency mortgages, which tend to be far better underwritten than the universe of mortgages. In other words, OFHEO's index will not capture either the subprime or jumbo markets well. The net of all of these factors means that home prices are probably falling by less than the Case-Shiller index suggests because it the index is too narrow, but given that OFHEO does not include subprime and jumbo mortgages prices are probably falling more than OFHEO is suggesting. The answer is thus in-between, although the broadness of OFHEO's index puts a modest lean (from the mid-point of the two) toward OFHEO, at least in terms of the national average. Market sentiment nonetheless is likely to be impacted more by the Case-Shiller index in the time ahead. Prices are likely to begin to fall at a slower pace next year in response to the recent increase in housing affordability, a rise in consumer confidence associated with the inauguration of a new president, and a dearth of home construction relative to household formation