Thursday, September 01, 2005

"No Evidence ... of Prices Topping Out"

New figures released today by the Office of Federal Housing Enterprise Oversight do not support specuation that the housing boom has gone bust. On the contrary, the average US home price went up 13.4 percent in the second quarter of 2005 from one year ago. That's the biggest increase in more than 25 years.

This from the Associated Press, via Los Angeles Times:
"There is no evidence here of prices topping out," the agency's chief economist, Patrick Lawler, said in a statement. "On the contrary, house-price inflation continues to accelerate, as some areas that have experienced relatively slow (price) appreciation are picking up steam."

— The Boy in the Big Housing Bubble