Tags: Case | Buy | House | home

Karl Case: ‘It’s a Terrific Time to Buy’ a House

Wednesday, 04 Jan 2012 07:58 AM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Home prices have registered a huge drop since the real estate bubble burst in 2007, falling 3.4 percent in the year through October according to the S&P/Case-Shiller Home Price Index.

But Karl Case, economics professor emeritus at Wellesley College and co-founder of the index, says that despite negative consumer sentiment toward home ownership, better times may be ahead.

“People are discouraged and fearful,” he tells The New York Times.
_________________________________________________________

Sick and Tired of Playing Retirement Roulette?

Fleeced by uncontrollable inflation, taxes, and dire unemployment, millions are being forced to dangerously gamble their life savings in the . . . Learn More About How You Can Protect Your Life Savings, Click Here.

_________________________________________________________


“They’re moving in with their parents. People thought home prices would never go down. We now know that they do go down, and you got hammered if you were overleveraged.”

And the fear now is that home prices will never rebound, Case says. But he sees signs of light.

homesgetty200v4.jpg
(Getty Images photo)
“Household formation is increasing and the vacancy rate is dropping,” Case says.

“Housing starts are at a 60-year low, and they’ve been there for three years. That’s unheard-of. We’re starting to see some signs of an increase in value.”

For those looking for a place to live, home prices are compelling, Case says. “If you’re buying a house or apartment to live in and pay for over time, and can afford the payments, then it’s a terrific time to buy.”

Hedge funds now see value in housing as an investment. "We turned bullish on housing. A rebound is coming," Andrew Law, chief investment officer at hedge fund manager Caxton Associates, tells The Wall Street Journal.


© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Dropbox Customers Organize Boycott to Protest Condi Rice Ties

Friday, 18 Apr 2014 21:47 PM

Protesters of Condoleezza Rice's appointment to the board of directors of Dropbox due to her views on Internet surveilla . . .

Whoopi Goldberg Writing Weed Column For Denver Post

Friday, 18 Apr 2014 20:58 PM

Not one to rest on her laurels, comedian/actress/pundit Whoopi Goldberg is diversifying her resume once again. Now, she' . . .

Kim Novak Hits Back at Post-Oscar 'Bullies'

Friday, 18 Apr 2014 19:57 PM

Veteran actress Kim Novak has lashed out at the bullies who mocked and criticized her appearance at the Academy Awards . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved