Looks like the nominal wealth boom isn’t solely a stock market phenomenon. The Fed might just be getting the boom they want (at least in the asset classes that make people feel wealthier than they really are)….According to CoreLogic, home prices in the USA are back to bubble-era type appreciation levels:
“CoreLogic (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its January CoreLogic HPI report.
Home prices nationwide, including distressed sales, increased on a year-over-year basis by 9.7 percent in January 2013 compared to January 2012. This change represents the biggest increase since April 2006 and the 11 th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.7 percent in January 2013 compared to December 2012. The HPI analysis shows that all but two states, Delaware and Illinois, are experiencing year-over-year price gains.”
Chart via CoreLogic:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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