OUR FLOURISHING ECONOMY  11:39 am August 25, 2009

Home Prices Go Up Up Up: America Saved!

by Ken Layne

It's not a house, it's a home.After dropping like a stone for the past three or four years, existing home prices in the United States went up a little teeny tiny bit in the second quarter of 2009. HOORAY WE CAN REFINANCE OUR WAY TO HAPPINESS AGAIN! So, the sales price of American houses went up by 2.9% between April Fools Day and the end of June, but they also dropped by 15% as compared to a year earlier. Never mind, we’re still doomed. [Washington Post]

 

Hola wonkerados.

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{ 20 comments }

TGY August 25, 2009 at 11:46 am

Oh, stop. You *know* prosperity is just around the corner.

Notsewfast August 25, 2009 at 11:49 am

I’m putting granite counter tops in my tar-paper shanty and adding a basin sink. HGTV taught me that kitchens & baths are the key to a profitable flip…

Noodle Salad August 25, 2009 at 11:50 am

American real estate – even when it’s up, it’s down!

Noonan August 25, 2009 at 11:51 am

Can my rent go down 15% please?

Mild Midwesterner August 25, 2009 at 11:51 am

I guess this means that I can once again get a 0% down interest-only mortgage with no income verification by the bank. Hooray!

SayItWithWookies August 25, 2009 at 11:56 am

Unfortunately this correlates with a 2.9% uptick in the price of corrugated tin. Probably just a coincidence, though.

ALIVE! August 25, 2009 at 11:58 am

I knew those Bush tax cuts would finally kick in and boost our economy.

charlesdegoal August 25, 2009 at 12:02 pm

Frankie Lee probably still tembles

AngryBlakGuy August 25, 2009 at 12:04 pm

…can I refinance my refrigerator box condo now?!

ChernobylSoup v2 August 25, 2009 at 12:05 pm

You know what causes home prices to drop? Old beat up cars parked in front yards with weeds growing up through the mag wheels. When the cars were removed via Cash for Clunkers… VoilĂ ! Prices went back up. Obama — still always three steps ahead of us mere mortals.

Rodney Badger August 25, 2009 at 12:09 pm

I’m still waiting for the report on sales of imaginary homes.

Min August 25, 2009 at 12:19 pm

It’s the siding. Apparently, instead of trading up to better houses, people are putting up siding to make their crappy old shacks look like crappy new construction.

V572625694 August 25, 2009 at 12:21 pm

[re=394251]Noonan[/re]: You can get a 15% rent decrease as soon as your landlord gets a 15% cut in his mortgage payment, you freeloading scholiast!

hockeymom August 25, 2009 at 12:34 pm

I don’t recall giving permission to use that picture of me and my husband.
You’ll be hearing from our lawyer.
Harumph.

Advocatus_Diaboli August 25, 2009 at 12:46 pm

[re=394245]TGY[/re]:
Oh, stop. You *know* prosperity is just around the corner.

Yes, just one more Friedman and we’ll be looking at Dow 36,000!

charlesdegoal August 25, 2009 at 1:02 pm

Well, he trembled, so I guess he would still tremble. My bad.

PeteJayhawk v2.0 August 25, 2009 at 1:23 pm

Holy fuck. Is that alt-text an Infocom HHGTTG game reference?

Tommmcatt August 25, 2009 at 1:25 pm

Is that shack in the picture for sale?

102415 August 25, 2009 at 6:13 pm

Some of you commie slackers can now probably buy back your old property for about $24.99.Really in some ways it’s a lose lose win situation.Yes, I do know someone who did buy back his old house for half price the price he originally owed and that was 8 years ago when the market was high.

Mr Blifil August 25, 2009 at 10:48 pm

Home values are up quite a bit compared to property values in the late 1600s.

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