Home prices continue to increase; noted by the Case-Shiller U.S. National Home Price NSA Index. US home prices continue a 6.5% increase, metro areas are increasing by 8.5% to 11.2% on an annual basis.
Housing Bubble? Maybe a Housing price peak? From 2013, in a ten year period home prices have more than doubled. Home price to household income has never been greater. The last time home prices doubled this quickly was from 1999 to 2007, a cautionary tale.
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A friend in construction says materials costs are down from their peak but labor shortages force higher prices. Low bid projects often get delayed as crews show up at best paying job. Bid high to get job done on time.
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My home town in Central TX was hit by high winds, hail, and a small tornado a couple weeks ago.
No injuries as far as I know. But LOTS of tree damage and roofs.
Several folks were without power for a week, with resulting stories about ‘lost fridge food’, having to live without AC, phone/tech charging issues, etc.
Following the ‘stories’ of friends and relatives, I hear comments that ’ Commercial crews are cleaning up, and fixing those ‘jobs’ that pay the best, before moving on to the ‘lower paying’ jobs.
There are also ‘neighborhood’ ‘next door’ type stories about ‘volunteer’ groups helping ‘victims’ clean up.
ralph
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