US Home Prices Post Another Record, Surge Most In 30 Years

US Home Prices Post Another Record, Surge Most In 30 Years

US home prices rose more than expected in June, data out Tuesday showed. The latest read on the S&P CoreLogic Case-Shiller National index showed prices rose 18.61% that month, marking yet another milestone in a series of record-setting YoY gains (figure below). "June’s gain for the National Composite is the highest reading in more than 30 years of data," Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices, said. You'll recall that Lazzara was fresh out of
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3 thoughts on “US Home Prices Post Another Record, Surge Most In 30 Years

  1. IMHO, homes will continue upward gains in valuation, due almost entirely to Boomer dynamics. The notion that home prices will eventually drop in order to fall in-line with Generation X, or Z income (or savings) is a pipe dream. The cash tsunami from retiring seniors and industrial investors eclipses any entry-level hopes that younger couples may grasp at. That’s a solid fact. Fed rates are also pointless (in a cash based market). As a guess, I’d imagine 2022 will see similar gains to 2021. This is non linear, it doesn’t have to make sense.

    1. I suspect your observation is accurate in the short run. Here in KC we are in the midst of a huge apartment boom. Typical rates for what I consider to be high average units are 1500-1700/ a month. High, perhaps, but cheaper than a mortgage on even a 300k house, if you can find one that is not a pit. I suspect the apartments are mostly in demand by the 25-40 crowd, with some older folks mixed in.

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