“Trickle Down” Economics to ‘Bubble Up’?Soft drink aficionado’s may recall “Bubble Up” as a long-ago rival to 7-Up. It may also be the best label for today’s, post-crash, post-Trickle Down economy. Notwithstanding the latest, dire Case-Shiller statistics, Realtors in many cities nationally are reporting more and more instances of multiple offers for deeply discounted, bank-owned...Read More
Credit Market Indigestion? Big jump in rates today: from 4.75% to well over 5%. That may not seem like much, but in the mortgage market, that’s like a 250 point drop in the stock market. The explanation? Apparently, a not-so-successful U.S. Treasury auction, which mortgage rates key off of. Maybe borrowing a couple extra trillion...Read More
Where: 2600 Inglewood, in St. Louis Park’s Fern Hill neighborhood What: 3 BR/2BA Georgian Colonial with just under 2,000 FSF How Much (Asking Price): $374,900 When: May, ’09 Who: Ross Kaplan, listing agent Case-Shiller may show that the Twin Cities dropped 6.1% in March, but that didn’t stop this handsome Colonial from selling quickly (technically,...Read More
Local Reaction to Case-Shiller Numbers Apparently, Case-Shiller’s March statistics showing a 6% drop in Twin Cities house prices provoked a range of reaction, including some questioning its accuracy. Chris Snowbeck’s piece in the St. Paul Pioneer Press today, “Home Prices Dive — With an Asterisk,” does a nice job cataloguing the responses (including a quote...Read More
