The April Price-Schiller Index is out. The following Cities registered price rises after a prolonged series of price drops:
The data lags by two months so we are likely already well into a price recovery.
The Price-Schiller Index is indexed in dollars, which means that actual real estate values are still going down as the Federal Reserve continues to print stunning amounts of money to keep the banks afloat. But your money is better off in dirt right now than dollars. If you can get a low-interest loan (6%), all the better.
Real estate values in Hispanic areas continue to drop. Brick Oven’s theory is that land values are directly proportional to the IQ of the population. Land values in Manhattan, gated suburban communities, and Tokyo are high. Land in Africa or downtown Detroit has essentially no value, because people with money don’t want to live there. Despite the fact that most Hispanics are decent people, land values in Hispanic areas will trend towards real estate values in the Mexican interior, which are low.
The best investment is agricultural real estate in white areas with conservative governments.