Thanks REBGV for the HPI numbers.
YOY - HPI price drops...yes that's drops.
Over-all = 4.3%
Sales down significantly from last year.
Lets see if the media pick up on this. Anyone who bought property for investment (lets say with 100% cash) will be down 4% from May 2012 plus expenses 1% or so, and missed income on the investment 1-2%. Add in any rental income - which runs 3% or so now. So they are down 4% on their money.
No one is going to bail with that sort of drop, but if and when it gets to a 10% people will be starting to look at getting out. Especially if the investment was not 100% cash, but leveraged up with a mortgage.
Three reasons to ignore the Turkish Apocalypse hype - *Mid-week market update*: Earlier in the week, Mark Hulbert wrote that "U.S. investors should see this Turkish crisis as a buying opportunity". Hulbert wen...
1 day ago