90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Home Prices Rebound

With Jane Clayson in for Tom Ashbrook.

Housing prices break out of their slump. We look at the rebound and what it means for the nation’s recovery.

A "Sold" sign is posted outside a home in Indianapolis, Tuesday, April 9, 2013.

A “Sold” sign is posted outside a home in Indianapolis, Tuesday, April 9, 2013.

Big new housing numbers out yesterday.  Home prices rising at the fastest rate in seven years – fastest in some of the markets hardest hit by the housing bust: Phoenix, San Francisco, Las Vegas

But much of the boost is driven by low inventory. And with credit still tight, home ownership is now at the lowest rate in nearly 18 years. So what does this all mean for the larger economy? For the average American who wants to buy a home? And will the tide keep rising, or could we even be headed for another bubble?

This hour, On Point:  decoding the housing market rebound.

Guests

Karl Case, professor emeritus of economics at Wellesley College. Co-creator of the Case-Schiller index, which tracks housing prices across the United States.

Christopher Mayer, professor of real estate and finance and economics at Columbia Business School.

Dave Tina, longtime Las Vegas realtor, president of the Greater Las Vegas Association of Realtors.

From The Reading List

The Wall Street Journal: Home Prices Score Highest Annual Gain Since 2006 – “Sharp drops in the number of homes listed for sale and growing demand for home purchases sent U.S. home prices up by 9.3% in February from a year ago, the largest growth rate in nearly seven years, according to a report released Tuesday.”

The New York Times:Today’s Dream House May Not be Tomorrow’s – “Economic and demographic changes may severely impair the value of a home when it’s time to sell, a decade or more in the future. Will a particular home still be fashionable then? Will social and economic shifts tilt demand toward new designs and types of communities —even toward renting rather than an outright purchase? Any of these factors could affect home prices substantially.”

MarketWatch: Despite recent gains, home prices sharply below peak in Las Vegas, Miami and Detroit — “Areas that were particularly hard hit by the housing market’s meltdown saw large annual price gains, but remained below bubble peaks. For example, Las Vegas saw  prices increase 17.6% over the 12 months through February. According to Tuesday’s report from S&P/Case-Shiller, home prices in Las Vegas in February remained 55% below a 2006 bubble peak.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Sep 23, 2014
Cindy Cook holds a photo of her mother, former Rep. Alice Cook Bassett, at her home in Calais, Vt., Tuesday, March 13, 2012. Cook took care of her mother in December when she decided to stop eating and drinking to put an end to her life. (AP)

A bipartisan report says medical care at the end of life needs a big overhaul. One bioethicist says, “After 75, no major interventions. Let me go.”

Sep 23, 2014
Levon Aronian, of Armenia, right, moves during his match against Hikaru Nakamura, of the United States, in the sixth round of the Sinquefield Cup chess tournament Tuesday, Sept. 2, 2014, in St. Louis. (AP)

A young grandmaster just did the impossible at a top chess tournament. No one paid attention. Does chess still matter?

RECENT
SHOWS
Sep 22, 2014
Demonstrators make their way down Sixth Avenue in New York during the People's Climate March Sunday, Sept. 21, 2014. (AP/Jason DeCrow)

Big climate protests in New York before a big UN summit. Activist and author Naomi Klein says change the economy or die. She’s with us.

 
Sep 22, 2014
President Barack Obama gestures during a statement in the State Dining Room of the White House, on Thursday, Sept. 18, 2014, in Washington. Obama spoke after Congress voted to arm and train moderate Syrian rebels in the fight against the Islamic State group. (AP/Evan Vucci)

A tough, critical examination of US plans to take on ISIS. Strategy in the hot seat.

On Point Blog
On Point Blog
Our Week In The Web: September 19, 2014
Friday, Sep 19, 2014

Lots of big, contentious topics on the show this week — from Zionism to early education, corporal punishment to development in the Grand Canyon.

More »
Comment
 
Talking Through The Issue Of Corporal Punishment For Kids
Wednesday, Sep 17, 2014

On Point dove into the debate over corporal punishment on Wednesday — as Minnesota Vikings running back Adrian Peterson faces charges in Texas after he allegedly hit his four-year-old son with a switch.

More »
2 Comments
 
Our Week In The Web: September 12, 2014
Friday, Sep 12, 2014

In which you had varied reactions to the prospect of a robotic spouse.

More »
Comment