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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (245862)	4/27/2010 4:06:38 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 306849

Recovery in housing? ==== zerohedge.com KEY NUMBERS: S&P Case-Shiller home price index +0.64% in Feb (yoy) vs. median forecast +1.3%. MAIN POINTS: 1. Although the S&P Case-Shiller index of home prices in 20 metro areas was 0.64% above its year-earlier reading in February, this translates into a 0.85% decline, not seasonally adjusted. S&P has recently cautioned against the use of its seasonally adjusted series given difficulties in pinning down the seasonal. For what it's worth, that index was down about 0.1%. 2. The Case-Shiller index follows others in showing renewed signs of weakening, which makes sense given that this index is based on a 3-month moving average of prices. Even so, other indexes have been weaker than the Case-Shiller. For example, the LoanPerformance indexes of sales (including distressed sales) has fallen for three consecutive months, by a cumulative 4.5%. The FHFA index is down 2.7% over the same period. (Both are seasonally adjusted.).

To: John Vosilla who wrote (245862)	4/27/2010 7:10:12 PM
From: Mike M2	Read Replies (1) \| Respond to of 306849

John, Greenspan help to create the housing bubble in an ill fated attempt to mitigate the adverse economic impact of the bursting of the tech/dot.com bubble. The Clinton " budget surplus" was due in large part to a big capital gains windfall from the stock market bubble. The economic statistics have been phoney for years - inflation is understated due to the hedonic deflator, geometric weighting and substition. to the extent that we understate inflation growth and productivty is overstated. see grandfather-economic-report.com . Moreover stock options accouting overstated S&P earnings by 40% during the 3 years 1996-1999. FASB rules allowed companies to not report employee stock option compensation on the income statement but they took a tax benefit for those same options. The cost of the options hit the balance sheet via a reduction in shareholder equity. Forbes ran a story about this with the research of Andrew Smithers in the year 2000 ? I can't find the story but this covers it fmcenter.org for more on phony stats see shadowstats.com