Case Shiller Home Price Index Rises to Cycle Highs
The Case Shiller 20 City Price Index for Single Family homes rose in March by 6.8% year over year
faster than 6.5% expected by Bloomberg eclipsing the hold high set prior to the 2008 financial crisis. The West led the gains with double digit increases tied to the strength of technology companies most likely. We remind everyone that these rises come at time when GDP has been slower than most believed over the past decade and MUCH FASTER than wage growth 2 factors that generally favor housing price appreciation. Thus, in our view, the price rises appear to be tied more to artificially low interest rates and Central Bank Policy in money creation more than an economic recovery. And as a reminder both of these have begun to reverse. These are the kinds of uncommon insights we provide to our clients thus helping better plan for their financial future whether personally or in business.
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