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
Aug 5, 2015
Landon Kimich, 2, sleeps as he receives a chemotherapy treatment for neuroblastoma at Houston's M.D. Anderson Cancer Center on Friday, May 22, 2015. (AP)

After the diagnosis of cancer, another blow – the often-crippling costs of treatment. We look at the soaring price of cancer drugs.

Aug 5, 2015
It can be hard to accept failure. (Flickr / Blacksheep of Omaha)

“Fail fast, fail often” goes the zeitgeist . But should we have such optimism for failure?

RECENT
SHOWS
Aug 4, 2015
Jason Segel as author David Foster Wallace in the new film, "The End of the Tour." (Courtesy A24 Films)

Comedic actor Jason Segel gets serious and takes on author David Foster Wallace in the new film, “The End of the Tour. ” He’s with us.

 
Aug 4, 2015
In this Jan. 20, 2015 file photo, a plume of steam billows from the coal-fired Merrimack Station in Bow, N.H. President Barack Obama on Monday, Aug. 3, 2015, will unveil the final version of his unprecedented regulations clamping down on carbon dioxide emissions from existing U.S. power plants. (AP)

Tough new carbon restrictions. What the president is proposing, Germany’s already doing. Will the American people buy in?

On Point Blog
On Point Blog
Our Week In The Web: July 31, 2015
Friday, Jul 31, 2015

A regular reminder that RTs are not endorsements, links have specific authorship and patience is a virtue.

More »
3 Comments
 
Q & A: Scott Walker On The Iran Deal, Huckabee Comments
Monday, Jul 27, 2015

Wisconsin Gov. Scott Walker explains his opposition to the Iran Deal, his record of statewide electoral victory and why he feels he’s set to win the 2016 Republican Presidential nomination.

More »
Comment
 
Q & A: Carly Fiorina On Trump, Sexism, And Being Cut From The GOP Debate
Monday, Jul 27, 2015

Republican Presidential Candidate Carly Fiorina, the former CEO of computer giant Hewlett-Packard, joined guest host John Harwood to talk Donald Trump, the upcoming Republican candidate debate and sexism in modern life.

More »
Comment