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Washington (AFP) — Price gains in the U.S. housing market slowed further in June as pent-up buying pressure eases, the S&P/Case-Shiller index showed Tuesday.

Home prices continued to rise, but the 20-city price index rose at an annual rate of 8.1 percent in June, down from 9.3 percent in May and 10.8 percent in April.

The deceleration is taking place around the entire country, a sign the market is stabilizing after the crash that began in 2006 followed by the sharp rebound in prices from 2012.

“Other housing indicators — starts, existing-home sales and builders’ sentiment — are positive. Taken together, these point to a more normal housing sector,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

Blitzer warned that the prospect of higher interest rates next year, when the Federal Reserve is expected to increase its base federal funds rate, will add more restraint to the pace of price rises.

“Rising mortgage rates won’t send housing into a tailspin, but will further dampen price gains.”

AFP Photo/Joe Raedle

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Jeff Danziger lives in New York City. He is represented by CWS Syndicate and the Washington Post Writers Group. He is the recipient of the Herblock Prize and the Thomas Nast (Landau) Prize. He served in the US Army in Vietnam and was awarded the Bronze Star and the Air Medal. He has published eleven books of cartoons and one novel. Visit him at DanzigerCartoons.

Jason Miller

Screenshot from C-SPAN

Reprinted with permission from Daily Kos

If there's anything that right-wing chat platforms promising uncensored "free speech" like Gab and Parler have proven, it's that such predicates ensure the platforms will quickly be inundated with the worst people in the world—bigots spewing death threats, hatemongers, disinformation artists, conspiracy theorists, vile misogynists, and terrorists of all stripes. The kind of clients that will doom such networks to permanent deplatforming.

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