It is pretty remarkable how different a picture the Case-Shiller and the OFHEO data paint. Panic or not? Remember, these data (OFHEO) contain more houses (not just Portland), but only conventional loans (so no high end houses).
Tuesday, May 27, 2008
Housing Market: OFHEO 2008 Q1 Data
For you real data junkies and for a broader look at Oregon than just Portland, here, once again, is the Office of Federal Housing Enterprise Oversight's House Price Index (HPI). The Q1 08 results are in and here is what it looks like:
It is pretty remarkable how different a picture the Case-Shiller and the OFHEO data paint. Panic or not? Remember, these data (OFHEO) contain more houses (not just Portland), but only conventional loans (so no high end houses).
It is pretty remarkable how different a picture the Case-Shiller and the OFHEO data paint. Panic or not? Remember, these data (OFHEO) contain more houses (not just Portland), but only conventional loans (so no high end houses).
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I'm not too worried about the price of houses, which will rebound. But what about the result of the mortgage-backed securities? Will we rebound from that, or does it signal some kind of deep fault in our financial system? (Kevin Phillips had a nice piece in the Oregonian today with grim facts.)
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