The University of Hong Kong reported a decline in the price of Hong Kong's residential properties from October through November 2013, but overall, those prices are still above those reported in 2012.
Forget Syria, the debt ceiling, oil prices, and the rest. The biggest threat to the stock market for September is the effect of higher interest rates on the US housing market.
Weak housing numbers released this week have some analysts worried that the housing recovery is losing momentum. Personal income lags, durable goods fall, and Dunkin' Donuts gets in hot water for a 'blackface' ad campaign in Thailand.
Home prices on the Case-Shiller 10-city Index rose 2.48 percent in May, and the 20-city index rose 2.44 percent over the same period. The latest data is continuing to demonstrate significant resiliency compared to past years.
With the Dow Jones Industrial Average hitting the 15000 milestone and economic signals flashing continued growth, the case for bull market optimists looks stronger. But there are reasons to be cautious about a retrenchment of the Dow.
Home prices increased by 9.3 percent, their largest annual margin in nearly seven years. But experts warn that a backlog in some markets could keep home prices low for the foreseeable future.
Case-Shiller home price indices for February reported that home prices rose 0.37 percent since January.