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“Don’t Rush To The Stock Market, Just Yet…”
By Sherman Ragland | August 30, 2007
With all this talk about the “Crashing” real estate market, many “so called” real estate investors are rushing into things like S&P Futures, and mutual funds.
But before you run out on real estate and plunge into the stock market, you may want to take a look at some of the latest data. Especially if you are investing in the Greater Washington, DC area…
The Office of Federal Housing Enterprise Oversight (OFHEO) said average prices of a single-family home last quarter were up 3.2 percent from year-ago prices.
Single family home prices in Virginia were up 3.7 percent from year ago levels.
Maryland had year-over-year price gains of 4.72 percent.
In the District prices were up 4.62 percent.
So what gives? If the market is IMPLODING, Why are Prices Still Going Up…?
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August 30th, 2007 at 9:22 pm
This is interesting data on the appreciation rate in the metro DMV area. Earlier this week either local or national news reported a decline in housing value around 7.1% for Virginia only. Perhaps this was a state-wide average vs. No. VA.
September 2nd, 2007 at 8:29 am
Ummm, doesn’t OFHEO data lag by like 6 months.
While I don’t think this area (DC/Bmore metroplex) will get as hard as others, affordability is ridickledockle (apologies to The Fonz). I’m speaking as a 6 figure buyer; 80K is an insult to me.
More blood in the streets, please!