Tag Archives: David Blitzer

Business, Finance, Occupation & Industry

Home prices climb in December, best yearly gain since 2006: S&P

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A sign advertising new homes starting at the price of $100,000 is displayed in Chandler Heights, Arizona

NEW YORK (Reuters) – U.S. single-family home prices picked up in December, closing out 2012 with the biggest yearly gain in more than six years as the housing market got back on its feet, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.9 percent in December on a seasonally adjusted basis, topping expectations for a gain of 0.5 percent. On a non-adjusted basis, prices were up 0.2 percent. “Home prices ended 2012 with solid gains,” David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. …

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Source: FULL ARTICLE at Yahoo Business

News, Politics, Government

Housing Markets Will Probably Never Return To Pre-Crisis Levels: Case-Shiller Chair Blitzer

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By Agustino Fontevecchia, Forbes Staff Excitement over the emergence of a housing market recovery has led to initial exuberance, at least when it comes to media reports and the rapidly rising stock prices of homebuilders.  Market participants should take a more cautious approach and acknowledge that the 2006-2007 state of the housing market was unsustainable, Case-Shiller index chairman David Blitzer says, adding “we aren’t going back there for a long time, maybe never.”  Blitzer noted that a big foreclosure backlog and an elevated number of underwater mortgages still plague the residential real estate market, which will slowly continue to crawl back to normality over the next few years.
Source: FULL ARTICLE at Forbes Latest