Home Prices Jump Again. Are We Out of the Woods Yet?
Home prices as measured by the S&P/Case-Shiller Home Price Index jumped 6.8% year-over-year last December, closing out 2012 with a strong showing, as they’d risen 5.5% on the same basis the month before. Prices rose in 19 of the 20 metro areas tracked by the index, with only New York City as an outlier. (Gothamites, realize that the NYC data excludes co-op and condominium apartments, tracking instead the price of single-family homes in the metro area). Especially stunning is the fact that except for Chicago (up 2.2%), Cleveland (up 2.9%), and Boston (up 3.6%), all of the metro area gains recorded were greater than 5%. On the high end, Detroit housing prices rose 13.6% year-over-year, while San Francisco zoomed 14.4%, and Phoenix roared up 23%. Nationally, the index (which showed 15 years of house price increases up to its peak early in 2006) is now back to the levels of summer 2003. So is the housing slump over yet? (MORE: Haven’t Saved Enough for Retirement? Here’s How to Catch Up) ...
NYC apartment for $95M, with $60K in monthly fees
As apartments go, it's a palace, with 15 rooms, five of which have 18th-floor views of Central Park. At $95 million, you'd think it would come with a doorman too. But at high-end buildings in New York, basics like a doorman and a super come extra -- as much as $60,000 extra.
Found more than 1 month ago on channel MSNBC
PODCAST: Animal tracks and T-Mobile pacts
Wednesday, October 3, 2012 - 11:27 Andrew Burton/Getty Images A T-Mobile store is seen at 7th Avenue and 49th Street in New York City. Today police in Tehran fought with money changers and other protesters in front of the country's central bank. Inflation in Iran is running at a shocking clip: the Iranian rial has lost 25 percent of its value against the dollar in just the past week, and there is lots of blame to go around -- including some directed at the U.S. The Mortgage Bankers Association says applications for home mortgages surged last week. Interest rates are at record lows, thanks in part to the Federal Reserve's latest stimulus operations, and data from the payroll processing company ADP says private employers added 162,000 jobs last month -- still slow, but more than economists had expected. T-Mobile, America's struggling fourth-place wireless company, says it has finally reached a merger deal -- but not with one of the big guys. We all get to watch tonight's first presidential ...