Local Real Estate Markets

[Mwsinron]

Yeah, we'll see. I'd guess any cut will be August or later, since it will take taht long for the writing to be clearly on the wall.

Should be a good 3rd and 4th quarter

 

[al_bundy]

the futures traders like the PPI # this morning. we'll have to see what the market says. YoY it's 1.7% which is within the Fed's range of 1% - 2% inflation. I think it's too high for a rate cut, but probably good enough to keep rates steady. CPI is next week.

www.economicindicators.gov for anyone who wants a schedule. One of these days i'm going to stop being lazy and make up a calender in Outlook or Google or something with a schedule of every single economic # release the market cares about.

 

[Charlotte]

In Charlotte, NC, prices are still on the rise... about 7% over last year, I think. Many say that we have been underpriced for a long time, and we're finally catching up with the rest of the country. Also, there are far more people moving here, than moving away.

In my neighborhood (range of 275K-375K or thereabouts), 2 houses have just sold after having only been on the market a 1-2 week time period. So things are moving fast...

 

[brewer12345]

the futures traders like the PPI # this morning. we'll have to see what the market says. YoY it's 1.7% which is within the Fed's range of 1% - 2% inflation. I think it's too high for a rate cut, but probably good enough to keep rates steady. CPI is next week.

Except that's not the indicator the Fed cares about. AFAIK, they have stated they watch core CPI and the core PCE deflator, not the PPI, although obviously the PPI feeds into those measures.

 

[al_bundy]

PPI is supposed to be a leading indicator for CPI and PCE, but I agree that consumer prices are completely what the market will bear.

I remember back in 1999 and 2000 i would go into the big Macy's in NYC and their store brand pants and sweaters were like $40. it said on sale, but that was just a sign. by late 2001 the exact same clothes were half the price when you included the weekly coupons macy's had. by 2002 even stuff like Claiborne which never went on sale and was usually excluded from the coupons was going on sale and included in the coupons.

if you go right now it's like 1999 all over again


and NYC prices are flat to down this year if you take into account the fact that people want renovations done when they buy. if you have junk from the 1960's then you will sell only at a nice discount.