11:34 am May 4, 2012, by Jay
With their recent decline, housing prices nationwide have now fallen back to levels of which year, after adjusting for inflation?
You can also find it here.
May 4th, 201211:37 am
Huh, wonder how I can refinance my house to what the county now think it’s worth.
May 4th, 201211:38 am
(grammar police) what the county THINKS it is worth.
must be Friday!
May 4th, 201211:39 am
(bragging for no reason)
ByteMe - Political thug
May 4th, 201211:41 am
I can vote for all four?
Yay! Average is good!
May 4th, 201211:43 am
The answer is all four.
So my house, built in 1895, is worth about as much as it was when it was built.
Well, on average and all else being equal and all that small-print stuff.
Why a poll on this? It’s not like you’re going to call out the people who get it wrong. This is like an Ed Show survey lol.
May 4th, 201211:45 am
So basically the point is that housing prices, adjusted for inflation, are like a sine wave?
This is like an Ed Show survey lol.
But in this case, there will be people here who still get it wrong
May 4th, 201211:46 am
Hey Look! I was right!
Oh wait. . .
Housing sucks… However, it’s better to have a home that’s underwater than live under a bridge. My home was not purchased as an investment or loan funding vehicle, so I’ll keep paying until it’s paid off. If the job requires a move, I’ll just rent it out instead of selling it.
May 4th, 201211:47 am
the point is that housing prices, adjusted for inflation, are like a sine wave?
All markets tend to revert to mean.
My takeaway is that housing is NOT a good investment in the aggregate.
But — as I’m hopefully about to find out — it can be a pretty good investment under certain specific circumstances.
May 4th, 201211:49 am
ByteMe: But in this case, there will be people here who still get it wrong
Most Ed Show surveys end up being 95-97% on one side. I figure the numbers will be a little more centered here because some people are really that dumb as to not look for the answer first when given the clear opportunity. Makes you wonder if they failed open book tests.
May 4th, 201211:50 am
Gold was about $300/oz in 2000… you don’t think this will revert back to mean at some point in the future?
Buy and hold is only good if more people will want the asset a long time in the future.
Redneck Convert (R--and proud of it)
May 4th, 201211:53 am
Well, I keep telling y’all, think trailers. The price of trailers ain’t moved a inch in the past 10 years. But will you listen to me? Noooooooooooo! You had to go and buy a house and then groan and moan about how you can’t get half what you paid for it. And you can’t even put wheels on the thing and move it. You’re stuck. Serves you right for being dumb and uppity. You just went right on thinking only trash people live in trailers. And some of you call me a bigot?
Anyhow, I’m starting lunch a little early on account of I missed out on a couple breaks this a.m. while I was hauling and humping to get you ready to swap weird music a little later. Seeing as how some of you are about to get kicked out of your house for being under water and behind on the payments, I think Bookman ought to lead things off with a Randy Travis tune—you know, the one that starts
There’s my easy chair
Just settin’ there
It’s been a long long time. . . .
And then moves to “There’s no place like home.”
Have a good lunch everybody.
May 4th, 201211:55 am
May 4th, 201211:59 am
I am wondering how much of the housing crash here in the greater Atlanta area is attributable to over-development. It seems that in some counties, county commissioners were inexplicably rubber-stamping proposals left and right and glutting the market in the process. One of these guys is looking at twenty years in prison.
May 4th, 201212:02 pm
While there was certainly a lot of hanky-panky between commissioners and developers, Crier, it wasn’t the role of commissioners to hold down supply.
That was purely a private-industry decision.
May 4th, 201212:03 pm
Nice research, Jay! I will have to wait several more years before I try to sell mine, not that I have any interest at this point. So you mean Obama does not control house prices? Say it ain’t so! (The President has as much control of those as he does gas prices.)
I am a bit jealous of you – I love old houses, but I would never have a peaceful allergy day again!
That wasn’t a misprint was it? Most houses in 1895 were in the less than $10,000 range. Sure you didn’t mean 1985?
They BOTH suck
Towncreier @ 11:59
Could agree more………… Not many boundaries in the ATL metro area, growth that really ramped up in the 80s and went for many many yrs…… developers / builders along with local municipalities seeing dollars for ever…………. so so short sighted
May 4th, 201212:04 pm
“Couldn’t agree more………”
May 4th, 201212:06 pm
Most houses in 1895 were in the less than $10,000 range. Sure you didn’t mean 1985?
Account for inflation since 1895.
May 4th, 201212:07 pm
Not a misprint, Bhorsoft. The key phrase is “after adjusting for inflation.”
Bookman, where in Atlanta do you live if your 1895 house is worth about $7000? Over here in Candler Park my house is worth what I paid for it in 2006, which is disappointing enough. If I thought it was worth what it cost to build it in 1925 I’d be completely depressed.
May 4th, 201212:10 pm
I’m in Inman Park, IRun. And again, we’re talking price AFTER adjusting for inflation.
But don’t be depressed. It’s Friday!
Parents built a house (built in 1953) in 1980 for $80k. Now that it is just Mom she would like to downsize and feel she would be luck to get $100k for it even thought it appraises for more.
Bought my new construction in 1995 for $115k and Zillow puts the current value at $85k. I want to sell but can’t without taking a bath.
May 4th, 201212:11 pm
Wow, I went to the Bureu of Labor Stats website to use their inflation calculator and my house, which cost $15,000 to build in 1925 (I have the 1930 census record for it) would cost just under $200,000 now. And it’s worth a little more than $400K. OK, guess that’s not too bad.
May 4th, 201212:12 pm
Jay, you’re my neighbor!
Did your kids go to Mary Lin – Inman – Grady? My son is finishing at Lin this year.
May 4th, 201212:15 pm
I’m not depressed!
“INDIANAPOLIS – For the first time, we’re seeing numbers that confirm what many have suspected: Sen. Richard Lugar is in the fight of his political life. A Howey/DePauw poll out Friday puts Indiana State Treasurer Richard Mourdock ten points ahead of Lugar in the Republican primary Senate race.”
Bye bye RINO.
what you are saying is that housing prices right now are at where THEY SHOULD BE
May 4th, 201212:18 pm
I’m in Grant Park with an older home that has dropped half it’s value since the peak in the mid 2000s. the new homes across the street are selling, which is good news, yet they are only in the upper 200s with 2 car garages and 2000 square feet. That’s a sweet deal for intown.
Normal Free, Plain and Simple
With apologizes to Jay…This is totally off topic, but I found it interesting that The Navy Times posted this associated press essay about president Obama.
There is also the part about what Mitt said about President Carter would have done the same thing. It seems that alot of people forget that president Carter did do the same thing when he gave the OK to try to rescue the Iranian hostages. That it failed due to poor planning, poor intel and an evident misunderstanding of what sand does to engines was not his fault, but ultimately was his responsibility that he paid dearly for. The very same thing could have happened to president Obama. The man does have balls..
Anyway read the article and tell me what you think…
What overdevelopment? Builders are putting up new homes all around me now.
Georgia is not first in state unemployment rates!
Great job Mssrs. Deal, Perdue, et al!
May 4th, 201212:22 pm
“Bye bye RINO.”
Sad to think that another moderate Republican who was willing to work across the aisle to get good things done for America is being treated like a leper. Remember to be careful for what you wish for you may get it and be sorry forever for it.
May 4th, 201212:23 pm
“I assume that people meant what they said when they said it,” he said, referring to Romney’s 2007 interview. “That’s been at least my practice. … I said that I’d go after bin Laden if we had a clear shot at him, and I did. If there are others who have said one thing and now suggest they’d do something else, then I’d go ahead and let them explain it.”
Normal, the war weary since January 21, 2009, cushy soft on national security neocons and especially their liberal, socialist leader Romney get punked yet again…
May 4th, 201212:24 pm
Some people just don’t understand….
May 4th, 201212:29 pm
“Bye bye RINO”
Hello Democratic seat. You folks never learn.
May 4th, 201212:34 pm
Irun, yes they did, and they got a very good education along the way.
May 4th, 201212:41 pm
Some people just don’t
want to understand…
May 4th, 201212:44 pm
I don’t really know how bad the housing bust is but maybe we could ask Barney Frank and Chris Dodd how they would go about fixing it.
May 4th, 201212:45 pm
Class of '98
May 4th, 201212:46 pm
Jay, in a previous column, you wrote, that conservatives have “questioned (Obama’s) loyalty and patriotism.”
His own wife said she was proud of America for the first time in her life when he won the Democrat nomination.
I don’t think there is much question about their patriotism.
Well, the quality of the education at Lin, I can attest first-hand, is quite high. I only have one child so I am kind of sad that we won’t have a reason to go to the school anymore. We live only a half-mile away. I’m glad to hear you were pleased with Inman and Grady because I think they keep improving year after year.
Anyway, now I am not depressed. Happy Friday! Now, I gotta get back to work.
May 4th, 201212:48 pm
Yes, that is the major problem moving forward, way too many people used their house as their personal atm and now have no money left to spend plus their house is underwater. I think it will still take another 4 or 5 years to shake out. Some regions will fare better than others. The tough slog continues…
Class of ‘98
May 4th, 2012
Isn’t it funny that one has to go back four years for a criticism of the president?
Fannie Mae is in process
of fixing the housing
market. Check out
May 4th, 201212:49 pm
Oh, come on, Class of ‘98, please don’t pretend you don’t know it was taken out of context. You cannot be that stupid! No one can be! And it’s really, really childish to try to pull that one over on everyone when EVERYONE who likes to live in the real world knows better.
May 4th, 201212:50 pm
“His own wife said she was proud of America for the first time in her life when he won the Democrat nomination”
And the misquotes never die.
“For the First Time in My Adult Lifetime, I’m Really Proud of My Country”
May 4th, 201212:52 pm
People will always hear what they want to hear…
May 4th, 201212:53 pm
I don’t have to go back four years. I can find something to critize about him every day.
Did you know he has held more fund raisers than the previous FIVE presidents combined? Did you know he has played THREE times as many rounds of golf in three years as George W. Bush played in eight?
And liberals lampooned Bush for not working hard enough and vacationing too much.
My gosh, I could go on forever.
I recently had my houses appraised because I’m getting close to retirement. I wanted to have a firm understanding of where I was financially before I drew on the Governments dime.
I found out my houses are pretty much worth what I paid for them. I paid under 100,000.00 for them and they are worth that now. At one point they were valued at over 180,000.00.
The good news is they are paid for and will be a source of income after I downsize.
May 4th, 201212:54 pm
Ok Class – Let’s get thsi straightened out now. Michele Obama made that remark after a primary win. And please place it in context – for one the first time a man whose skin tone was other than pasty white won a key contest. Also, here’s a women who has witnessed discrimination and seeing that trend coming to an end. As for patriotism – do you think he’s doing this for the money?
“People will always hear what they want to hear…”
In cases like this, I think they deliberately misquote and know it.
May 4th, 201212:56 pm
My house is still “worth” more than what I owe. Whoooopie! Of course, the county and those little ho-ers the bank uses to “assess” its value (translation: deek me down and scroo me) disagree by quite a significant amount.
Still, can’t sell it. Can’t afford the upgrades it truly needs. I guess I’ll just sit here inside the house while we both rot together. Hey, at least I have a plan.
“What overdevelopment? Builders are putting up new homes all around me now.”
I don’t know where you live, but in a few counties there are unfinished developments. It is supply and demand. Historic Roswell I hear is doing very well. But then there hasn’t been much development there.
May 4th, 201212:57 pm
“While there was certainly a lot of hanky-panky between commissioners and developers, Crier, it wasn’t the role of commissioners to hold down supply.”
Is that your opinion or are you asserting that commissioners cannot control the rate of development?
“Did you know he has played THREE times as many rounds of golf in three years as George W. Bush played in eight?”
Maybe, but I bet it’s only a tenth of the amount Boehner played.
And let me clue you in…fund raiser are all the rage now…it’s election year and the Supreme Court said Corporations are people. Gotta do bunches of fund raisers to keep the playing field level….
May 4th, 201212:58 pm
Did I read correctly that
the mean price for housing
is always the same when
adjusted for inflation?
Well, it appears that Bozo will “officially” kick off his campaign tomorrow…… May 5th…. Karl Marxs birthday. The same Karl Marx who wrote the Communist Manifesto and also wrote, along with Frederick Engles a publication about revolution called, what else…. “Forward”. Valerie Jarrett must have had something to do with this. You just can’t make this stuff up.
May 4th, 20121:00 pm
The volt is finding a market-
When Kent State happened, for the FIRST TIME IN MY ADULT LIFE, I was ashamed of my country.
May 4th, 20121:01 pm
Your paranoia will destroy ya….lighten up and try not to connect dots that don’t exist…
May 4th, 20121:02 pm
May 4th, 2012
Damn! and all this time I thought he did it for Cinco De Mayo…to reel in the Hispanic vote…Karl Marx? Who knew?
I’m saying that they have no authority, right or ability to try to substitute their own judgment for that of the market. Their decisions should be based on land-use factors, not on whether the market is overbuilt or underbuilt.
I’m surprised to see you suggesting otherwise.
Kayaker’s a hoot!
Finn McCool (The System Isn't Broken; It's Fixed ~ from an Occupy sign)
May 4th, 20121:03 pm
Thank you Wall Street and all you lovely bankers!
May 4th, 20121:04 pm
your country was not
involved at Kent State
ONG was not under
May 4th, 20121:05 pm
If you are writing this piece to somehow justify the price of homes under Bozo and the gang, it won’t wash. I remember in high school paying 18 cents a gallon for gasoline but try telling that schmuck filling up his tank today that he ought to be comforted somehow that it’s inflation’s fault that the price of gasoline is so high…… certainly not Bozo. And try telling that under water seller who lost his job that he ought to be satisfied with the price he will get for his home, despite losing all of this equity and try to blame that on inflation instead of Bozo’s economic policies. I am sure that he will be comforted beyond means.
May 4th, 20121:06 pm
C’mon man, the housing crisis is pre-obama!! You are showing your prejudice loud and clear…
May 4th, 20121:07 pm
Well, I’m sick of this Obama. First he goes out and raises money for his reelection and I just hate that. He’s suppose to set there in the White House and then act real suprized when he loses the election to somebody that raises all kind of money. And then he goes and takes credit for something he done—get Osama. Everybody knows you’re suppose to let everybody else take the credit for stuff like that and make it look like you just set there like a big dummy that never knowed nothing about it when it happened.
If this stuff keeps up he’ll get reelected and the rest of us will be screwed, blued, and tattooed. And then along will come No. 1 Foxy Lady and tell us all to . . . well, you know.
Anyhow, it’s back to hauling and humping for me. Have a good p.m. everybody.
Forward not back.
obl is dead, GM is alive.
Four more years!
Time to buy houses for rental property.
This from the previous blog after you started this one Jay.
May 4th, 2012
Regulation, along with the highest corporate tax rates in the world for doing business inside the country and Obamacare are reasons for corporations not to hire people in this country.
Corporations are in the business to make a profit and to return maximum benefits to its investors. When the cost of doing business is higher in this country due to taxes, regulation, salary and benefits then they are going to go to another country to do business.
This is evident demand for these products by what you and other posters have said about corporate profits are at record levels due mainly to overseas operations. If you want these jobs back in the US then the country will have to make it more profitable for them to do business here then overseas. You can either lower salary and benefits, regulation cost, taxes or the jobs will not come back. That is the bottom line of the way capitalism works in a world economy.
You can spin this
May 4th, 20121:09 pm
Soros can donate a billion.
May 4th, 20121:10 pm
kayaker 71 Bookman,If you are writing this piece to somehow justify the price of homes under Bozo and the gang, it won’t wash.
Really? I mean. REALLY???????? Kayaker, can you please respond how you think Obama was responsible for the housing crash that started in 2006-2007?
The BBC’s 21st century Sherlock Holmes is back for season 2 on PBS Sunday. Wooohoo!
I’m quite sure that Class could go on forever, and probably will do so regardless of the facts. But as of last August, when the last totals were tallied:
“So far, President Obama has taken 61 vacation days after 31 months in office. At this point in their presidencies, George W. Bush had spent 180 days at his ranch where his staff often joined him for meetings. And Ronald Reagan had taken 112 vacation days at his ranch.”
Remind me: Where was Bush in the month leading up to 9/11?
Remind me: Where was Bush when Katrina hit?
But go ahead, Class. Prattle on.
(We also shouldn’t forget this wonderful moment: http://www.youtube.com/watch?v=Z3p9y_OEAdc )
May 4th, 20121:11 pm
The president get to play more golf than president Bush did because he is doing a better job.
May 4th, 20121:13 pm
then the country will have to make it more profitable for them to do business here then overseas
What a bunch of pansies! The country (GOVERNMENT) has to make it possible for companies to turn a profit? What ever happened to hiring smart managers who know what they are doing?
Help us! Help us! We can’t turn a profit! We needs us a handout! Give us a tax break…or 20!
LOL. You Nanny State people just kill me!!
May 4th, 2012
May 4th, 20121:14 pm
“Remind me: Where was Bush on 9/11?”
Why he was in Florida coordinating the whole “terrorist attack”…just ask “soothsayer”
“your country was not
involved at Kent State”
It happened IN my country. My country WAS involved.
May 4th, 20121:15 pm
Answer the question.
May 4th, 20121:16 pm
Yeah, and Santa still slides down chimneys on December 24th. GM and it’s affiliate finance company is still into the American taxpayer for a little over 50B and change and is majority owned by auto unions. I am sure that does not give you much pause but GM stock will have to double in price for a payback. With all of the capital investment put into the Chevy Volt, don’t hold your breath. As for OBL, I really don’t think you are stupid enough to believe that this will make iota of difference in November. That under water, unemployed blue collar worker that Bozo and the gang have written off will have other things to concern him/her beside some Muslim freak show.
I recall W taking the ENTIRE month of August off in 2011.
May 4th, 20121:18 pm
Santa still slides down chimneys on December 24th
Ewww, you get stale presents? Santa hates you! I get mine fresh on Dec 25th before 5am.
Feel the love.
May 4th, 20121:19 pm
I don’t really care which president takes how much “vacation”…In fact, I want them away from Washington as often as possible in case they decide they want to “help” us.
Nice con talking points but yes, getting obl and saving GM will get votes.
You keep on living in la la land so you feel better for supporting a lying corrupt gop.
“I’m saying that they have no authority, right or ability to try to substitute their own judgment for that of the market. Their decisions should be based on land-use factors, not on whether the market is overbuilt or underbuilt.”
Rubber stamping development proposals irrespective of a consideration of the extant infrastructure to support such development is a perfect illustration of what I am talking about. There are reasons to slow or impede the rate of growth in a county, all legitimate and reasonable. I am saying the brakes were not applied during the 90s and most of the first decade of this century. If housing is outstripping the infrastructure support (as happened in my county), then the commissioners are acting irresponsibly in rubber stamping development. Part of their job is to know what is an overall reasonable and viable rate of development. I am surprised to hear you say otherwise.
May 4th, 20121:20 pm
May 4th, 2012
It is not a vacation to go to your home or to camp David. Bush was in Flordia in front of a first or second grade class when 9/11 happened and he was at his home for Katrina. Neither was a vacation. Just like the people that say Obama plays to much golf or basketball is wrong because a President needs some down time.
A President deserves a couple weeks a years of actual vacation just lake the rest of us do every year and anybody that says otherwise is dumb.
Now I have a problem with Obama about taking all these trips around the country on the governments dime when everyone knows they are nothing more then campaign events.
Big O issues new fracking rules on gov’mt land:
Companies drilling for oil and gas on public lands must now identify the chemicals used. But in a concession to the industry, they do not have to make the disclosure until after drilling has begun.
May 4th, 20121:22 pm
If there were ever any commissioners that needed the ability and/or will to rein in development, it probably would be those in Gwinnett. Too late now though.
“Answer the question.”
I already have. Sorry it wasn’t in “haiku” form.
May 4th, 20121:23 pm
Speaking of votes, wonder why our president has not come out in support of gay marriage?
May 4th, 20121:24 pm
A video of Zimmerman and trayvon has been found
Trayvon is obviously in the hoodie
Fracking is the cheapest way to drill for gas.
They can find a better way but it will cut into profits.
Money over earthquakes is the gop way.
May 4th, 20121:25 pm
The President has one of if not the most stressful jobs on earth. It is constant 24 hrs/7 days a week.
Anyone complaining about a prez vacation days is looking for things to b*tch about.
Its not like they are without any means of immediate contact.
Do we really want them to never release and relax? How well would u do your job with no time to escape? Now multiply stress and level of importance by about 100!
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