In response to:

Where Have All Our Houses Gone

Merrie Wrote: Feb 03, 2013 10:27 AM
I've wanted to sell my house for the last 2 years. The 3 foreclosures on my street finally sold for next to nothing. The one non-forclosure for sale has been on the market for about 3 years. She's lowered her sale price over $100,000. She's had exactly one person look at it. So, I guess I'm still stuck. In the meantime, our county CEO is under indictment and the school system is in danger of losing accreditation. So, I may NEVER be able to sell.

Did you read the story home prices are up due to falling inventory? Case-Shiller just reported home prices were up in their 20 city index 5.5% in November all the way back to 2003 levels.

Regarding these price increases one must put them into perspective. As reported at the BusinessInsider, Quinn Eddins at RadarLogic argue the recent rise in home prices reflects the weakness in 2011 home prices more than the strength of 2012 home prices. I concur.

The reason for prices rising? According to the WSJ: “Economists see the report as a sign of the housing market...