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Home Prices Go Up Up Up: America Saved!

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]

About the author

A writer and editor of this website from 2006 to early 2012, Ken Layne is occassionally seen on Twitter and writes small books and is already haunting you from beyond (your) grave.

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Comments

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  • TGY

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

  • Notsewfast

    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

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

  • Noonan

    Can my rent go down 15% please?

  • Mild Midwesterner

    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

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

  • ALIVE!

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

  • charlesdegoal

    Frankie Lee probably still tembles

  • AngryBlakGuy

    …can I refinance my refrigerator box condo now?!

  • ChernobylSoup v2

    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… Voil√†! Prices went back up. Obama — still always three steps ahead of us mere mortals.

  • Rodney Badger

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

  • Min

    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

    [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

    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

    [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

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

  • PeteJayhawk v2.0

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

  • Tommmcatt

    Is that shack in the picture for sale?

  • 102415

    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

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