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
Oct 24, 2014
Ottawa police officers, with Parliament Hill in the background, guard the area around the National War Memorial in downtown Ottawa on Thursday. (Reuters/Landov)

Gunfire in Canada’s capital. Billionaire millions hit the midterms. Huge airbag recall. Ben Bradlee is dead. Our weekly news roundtable goes behind the headlines.

Oct 24, 2014
Andrew (Miles Teller) and his often demanding conductor, Terrence (J.K. Simmons) in a scene from the new film, "Whiplash." (Courtesy Sony Pictures Classics)

The new movie “Whiplash”. The thin line between obsession and abuse on the road to greatness. In music, the arts…sports.

RECENT
SHOWS
Oct 24, 2014
Andrew (Miles Teller) and his often demanding conductor, Terrence (J.K. Simmons) in a scene from the new film, "Whiplash." (Courtesy Sony Pictures Classics)

The new movie “Whiplash”. The thin line between obsession and abuse on the road to greatness. In music, the arts…sports.

 
Oct 24, 2014
Ottawa police officers, with Parliament Hill in the background, guard the area around the National War Memorial in downtown Ottawa on Thursday. (Reuters/Landov)

Gunfire in Canada’s capital. Billionaire millions hit the midterms. Huge airbag recall. Ben Bradlee is dead. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
The Explicast, Episode Two: Why Is Election Day On A Tuesday?
Friday, Oct 24, 2014

The Explicast is back for another round. This time, we’re looking at Election Day, and why we all keep voting on a random Tuesday in early November.

More »
Comment
 
Our Week In The Web: October 24, 2014
Friday, Oct 24, 2014

On comments, comment sections, and ROY G BIV.

More »
Comment
 
Introducing The Explicast: A New Podcast From On Point Radio
Friday, Oct 17, 2014

Confused about the news? Don’t worry: so are we sometimes! Introducing a new On Point Radio podcast: The Explicast. You can find Episode One right here.

More »
3 Comments