Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Tuesday, July 3, 2012

US house price inflation turns positive

Calculated Risk comments that the CoreLogic house price index (an alternative to the Case-Shiller index I talked about here has turned positive year-on-year, and the data are a month more recent than the Case-Shiller series.

I think this is the beginning of a real housing recovery, if only because mortgage rates have fallen so much, with the 30-year fixed rate mortgage now just 3.6%

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