Party On: Housing Prices Soar

Don't let anyone tell we are in the down phase of the boom-bust cycle. The Fed is pumping money aggressively (See The EPJ Daily Alert for more details on the printing) and price data is reflecting that. The S&P/Case-Shiller 20-city housing composite index data was released today. The overall gain in prices, year-over-year, was 5.0%.

Denver (up 10%) and San Francisco (up 9.8%) had the highest year-over-year gains. Prices in Denver and Dallas (up 8.6%) have pushed past housing boom peaks.

This will not end well, but for now party on!

-RW