Tuesday, July 28, 2009

Dallas Home Prices Up 1.9% In May From April.

The latest Standard & Poor's Case-Shiller Housing Index shows that Dallas home prices rose for the 3rd consecutive month. Only one other city in the index, Denver, can claim the same upbeat 3-month performance. Dallas also has had the lowest year over year decline in the index at -4.1% when compared to May, 2008.

Nationwide, the pace of the home price descent seems to have slowed. Case-Shiller tracks the prices of typical single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties – no new construction.

Thursday, July 9, 2009

How Cap And Trade Will Destroy The Housing Market.

The proposed Cap and Trade, or Cap and Tax, will mandate that any home you sell must meet certain energy standards. Before selling your home, you will be required to wait in line for a Federal Inspector to come out and give your home an energy rating. If the home does not meet the federally mandated energy standards, you will be required to finance the repairs to make it compliant. If you're selling your house because you're broke, I'm not sure what you do then, but I'm sure Nancy Pelosi and company will think of something. This will create higher prices in building new homes and add more red tape to an already delicate process. This proposed legislation also features increased energy efficiency demands in subsequent years so it will only get more expensive and burdensome. These same standards will also apply to commercial buildings as well.

Also, experts maintain that the bill will hit poor families the hardest as increased prices on electricity will take a bigger chunk of their disposable income. A gallon of gas is estimated to go up to at least $4. Any business that uses a lot of energy will feel more of the burden while China and other countries pollute the world as they wish. It's sort of like our EPA which is so worried about pesticides and insecticides used by American farmers, yet they are clueless about what is on the foods and fruits we import from Mexico.

Hey Washington, don't know if you've noticed but higher taxes and costs for homeowners may not be such a good idea right now. I'm amazed that our Ivy League educated politicians could be so dumb.

Texas Representatives that voted to TAKE MONEY OUT OF YOUR POCKET via Cap and Trade include -
Silvestre Reyes, Democrat
Eddie Johnson, Democrat
Sheila Jackson-Lee, Democrat
Rubén Hinojosa, Democrat
Raymond Green, Democrat
Charles Gonzalez, Democrat
Lloyd Doggett, Democrat
Henry Cuellar, Democrat

View how the entire house voted here.

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More Foreclosure Bargains Coming - Faber Report: Jumbo Pain - CNBC.com

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