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
Apr 29, 2016
Republican presidential candidate Sen. Ted Cruz, R-Texas, joined by former Hewlett-Packard CEO Carly Fiorina waves during a rally in Indianapolis, Wednesday, April 27, 2016, when Cruz announced he has tapped Fiorina to serve as his running mate. (AP Photo/Michael Conroy)

Trump and Hillary wins. Bernie lays off. Cruz chooses Carly. Beyonce drops “Lemonade.” Our weekly news roundtable goes beyond the headlines.

Apr 29, 2016
Screengrab from the #MorethanMean video produced by Sarah Spain and Julie Dicaro. Scroll down to view the video.

Women pushing back. A video by two female sports reporters about online harassment goes viral.

RECENT
SHOWS
Apr 29, 2016
Screengrab from the #MorethanMean video produced by Sarah Spain and Julie Dicaro. Scroll down to view the video.

Women pushing back. A video by two female sports reporters about online harassment goes viral.

 
Apr 29, 2016
Republican presidential candidate Sen. Ted Cruz, R-Texas, joined by former Hewlett-Packard CEO Carly Fiorina waves during a rally in Indianapolis, Wednesday, April 27, 2016, when Cruz announced he has tapped Fiorina to serve as his running mate. (AP Photo/Michael Conroy)

Trump and Hillary wins. Bernie lays off. Cruz chooses Carly. Beyonce drops “Lemonade.” Our weekly news roundtable goes beyond the headlines.

On Point Blog
On Point Blog
‘Embedded’: How Violent Gangs Are Terrorizing El Salvador
Thursday, Apr 14, 2016

NPR’s Kelly McEvers on her reporting in El Salvador for the podcast Embedded, and how gang killings brought San Salvador’s bus service to a halt.

More »
Comment
 
That Cheap Dress On Facebook? It Isn't Worth It
Monday, Apr 11, 2016

Know those shockingly cheap clothes you see advertised on Facebook? There’s a catch.

More »
Comment
 
The Boston Globe Imagines — And Rejects — A President Trump Front Page
Monday, Apr 11, 2016

The Boston Globe editorial page imagines — and rejects — President Donald Trump.

More »
Comment