U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover.
The Standard & Poor's/Case-Shiller home price index released Monday also showed that all 20 cities measured posted annual gains for the third straight month.
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And prices rose in 15 cities in March from February. That's up from only 11 in the previous month.
Annual prices rose in Phoenix by 22.5 percent, the biggest gain among cities. It was followed by San Francisco (22.2 percent) and Las Vegas (20.6 percent).
New York City had the smallest annual increase, at 2.6 percent. It was followed by Cleveland with 34.8 percent.
By CHRISTOPHER S. RUGABER
AP Economics Writer
(AP:WASHINGTON)
You go, Joe! Older and wiser, I say.
Thank you! Believe me when I say the lessons were very expensively learned, but at least I now know the truths whereof I speak and write. Along the way I've met amazing men & women who showed me how 'the system' REALLY works.
Folks, let me just close by saying ALL but the top 10% about to be had one more time by the banksters & Wall St crime-masters, as the Greatest Depression marches on over your bodies. WW3 against the Islam world will not 'save us' from it, but only deepen the tyrannies now ensconced by votes and violence. Look after yourselves and your loved ones; pray [if you've a mind] for the rest.
The solution is very simple. Just use your favorite search engine to find and read "Dignity Mortgages" especially one that says "Essential or Insane". The rest is easy to noodle out.
Gotta always remember: Figures don't lie, but liars can figure! We all know what that makes our wonderful folks in D.C.
I am now 70 and still working in my residential contracting business. We perform every aspect of residential improvement, from exterior & interior painting, roofing, landscaping, electrical & plumbing, as well as new construction from a client's plans or our design/build staff. My father had --in partnership w/two other fellows-- a medium-sized plumbing & heating business in Chicago from 1933 until 1958, when we relocated to Bellevue, WA state, where we were in the midst of that enormous boom cycle.
Clearly I was exposed to a great overview of the era's expansion in residential construction and new municipal development. That time is now gone, and unlikely to repeat itself. As a mature person looking over the vast wreckage of what the banksters have done to the mortgage trade in housing, and the feral gubbmint's [one cannot really believe we have a functional federal governance], I cannot see how the glut of vacated housing can be absorbed AND there be a resurgent market for new housing.
Finally, one needs to take a close look at this on-line article for a better over-view of our current malaise: http://theeconomiccollapseblog.com/archives/40-statistics-about-the-fall-of-the-u-s-economy-that-are-almost-too-crazy-to-believe
All best, and good luck!