Home prices decelerating by record amount, according to new report
Bankrate Dot Com – Thursday
S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released September 27, reports that price growth dropped by 2.3% from June to July — from 18.1% to 15.8%.
This is the largest one-month decline in the history of the index. Prices fell in 15 of the top 20 U.S. cities from June to July.
“Given the prospects for a more challenging macroeconomic environment, home prices may well continue to decelerate.”Craig J. Lazzara, managing director at S&P DJI
Image is from 1990. The economy and real estate are Cyclical (Expansion, Prosperity, Recession, Depression).
I first experienced the phenomena of a recession as a Naval Officer, in 1973 (when I had a job with a time commitment), and as a real estate broker in 1980-82, 1990-91, 2001, and the last one in 2008-2009.
I experienced them as a government employee (Naval Officer), an agent, a broker owner, a Certified Financial Planner, an investor, and a technology entrepreneur.
In retrospect, I should have purchased more real estate during and after each recession