Real Estate Journal - "Upticks in Home Starts, Inflation Are Seen as an Aberration" (1-22-07)
"A bump up in energy prices caused consumer prices to rise 0.5% in December from a month earlier after remaining flat or falling in the three previous months, the Labor Department reported yesterday. Excluding food and energy, so-called core prices -- a measure officials at the Federal Reserve watch closely -- rose 0.2%, in line with economists' expectations, as apparel retailers ratcheted back holiday discounts. Compared with a year earlier, overall prices rose 2.5% and core prices were up 2.6%."
Monday, January 22, 2007
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1 comment:
Ex-Pate currently in South Carolina watching the market in southern cal. I am thinking of going back this year because of the beginnings of a housing downturn cycle. I've read numerous econ and housing sites both bull and bear. My question is is there truly a real possibility that income to price ratio will revert to sanity again?
If the new reality is prices in So Cal are forever to be 5-9 x income then I'll tailor my job search accordingly. If indeed the market has a few years left to hit true bottom then renting for a few years is palatable. I am a native and would wait if bargains are to be had at the end of the cycle.
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