US home prices nationwide rise at faster pace in August, latest sign of housing recovery

  • Article by: CHRISTOPHER S. RUGABER , Associated Press
  • Updated: October 30, 2012 - 10:10 AM

WASHINGTON - Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.

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dlzabzOct. 30, 12 9:02 AM

Wait until the shadow inventory hits the market. Banks are holding onto foreclosures longer in order to depress supply. Zillow now shows distressed properties (blue) along with for sale properties (red). It is a scary picture if the banks actually released all their real estate onto the market.

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hitch22Oct. 30, 12 9:36 AM

Didn't everyone learn from the 2008 crash that rising home prices were NOT the sign of a strong economy?

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ninetyninerOct. 30, 12 9:38 AM

dizabz: you're dreamin. If the banks can unload property, they are most certainly going to do it. It's a losing proposition for them to hold onto a house. Besides, they make so much more on their junk bonds and derivatives.

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commonrobOct. 30, 1210:11 AM

This will be a disaster in the making. We are out of jobs and can't afford them now and oh ya let's just jack up the prices and wait to see what will happen then, the smart folks know we will slide into the deepest recession you have ever seen. Quit screwing withthe housing market, it was ten miles into the woods and it will be ten miles back out, get it!

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dlzabzOct. 30, 1210:21 AM

Go ask your realtor about buying an REO if you don't believe me.

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FrankLOct. 30, 1210:26 AM

Sure prices are rising, in another 20 years we might get back to even. My neighbor just put their house on the market at the same price it went for in 1995.

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SUMMITOct. 30, 1211:30 AM

Thank you President Obama, you have saved our economy in spite of the right wing obstruction borne of their hatred of you.

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Zekeman10Oct. 30, 1211:46 AM

That's because, FrankL, that GWB allowed anyone to get a loan and buy a house or if they already had a house to get a bigger house, ALL more than people could afford. And when the market corrected, like it always does, it happened right when Obama was elected. So W and his buds started the Chicago fire version of a financial collapse, and are blaming Obama for not putting the fire out fast enough, as they sat on the sidelines pouring more gas on it. Remarkable.

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FrankLOct. 30, 1212:29 PM

Zekeman10, what are you talking about, in 1995 Clinton was president. My house was built in 1964, and if it burned down it would cost more to rebuild than what one could sell it for. The market has a long way to go to recover.

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clnorthOct. 30, 1212:54 PM

Zekeman10. It is remarkable that you can blame one party for this mess. Take the blinders off.

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