MacroMarkets March 2011 Home Price Expectations Survey

On March 22 MacroMarkets released its March Home Price Expectations Survey results. Here is the Press Release (pdf); the accompanying chart is seen below: (click on chart image to enlarge) As one can see from the above chart, the average expectation is that not only has the residential real estate market (nearly) hit a “bottom” …

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MacroMarkets December 2010 Home Price Expectations Survey

On December 22 MacroMarkets released its December Home Price Expectations Survey results. Here is the Press Release (pdf); the accompanying chart is seen below: (click on chart image to enlarge) As one can see from the above chart, the expectation is that not only has the residential real estate market (nearly) hit a “bottom” as …

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What’s Ahead For The Housing Market – A Look At The Charts

There has been much written as to the future of residential real estate prices.  The consensus appears to be for very slight appreciation for years.  This consensus is echoed in the MacroMarkets September 2010 Home Price Expectations Survey Press Release (pdf).  Here is a chart from that survey that shows the past history (green line) …

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MacroMarkets September 2010 Home Price Expectations Survey

On September 21 MacroMarkets released its September Home Price Expectations Survey results. Here is the Press Release (pdf); the accompanying chart is seen below: As one can see from the above chart, the expectation is that not only has the residential real estate market hit a “bottom” as far as pricing; but that steady yet …

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Identifying The Housing Bubble

The Boston Federal Reserve recently came out with a report dated August 12 titled “Reasonable People Did Disagree:  Optimism and Pessimism About the U.S. Housing Market Before the Crash.” (pdf) A sentence from the abstract is particularly interesting: “We conclude by arguing that economic theory provides little guidance as to what should be the “correct” …

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MacroMarkets June 2010 Home Price Expectations Survey

On Wednesday (June 23) MacroMarkets released its June Home Price Expectations Survey results. Here is the Press Release (pdf); the accompanying chart is seen below: As one can see from the above chart, the expectation is that not only has the residential real estate market hit a “bottom” as far as pricing; but that steady …

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MacroMarkets Home Price Expectations Survey

On May 19 The Wall Street Journal had an article about a new housing survey called the MacroMarkets Home Price Expectations Survey. From the MacroMarkets.com website: “MacroMarkets has assembled a distinguished panel of over 100 economists, investment strategists, and housing market analysts who are surveyed every month regarding their 5-year expectations for future home prices …

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Characteristics Of The Housing Bubble

Given the incredibly outsized intervention efforts in the residential real estate market, I think it is important to examine some dynamics of the real estate bubble. Here is a chart from the 12/15/09 Contrary Investor commentary that I believe is interesting, as it depicts some underlying residential real estate fundamentals.  It shows the equity and mortgage …

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Ben Bernanke’s January 3rd Speech

I would like to make a couple of comments regarding the speech Ben Bernanke gave on January 3.  It was titled “Monetary Policy and The Housing Bubble.” (pdf) I could make a significant amount of comments regarding this speech, as I partly or fully disagree with many of the points presented. I will, however, briefly comment …

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A Classic Article Revisited

One of the classic articles of the housing bubble is “America’s House Party” from Time Magazine, June 2005.  It really provides a flavor of the period, as well as provides a perspective of a bubble environment. Here is the link: http://www.time.com/time/magazine/article/0,9171,1069097,00.html   SPX at 1032.81 as this post is written