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News Link • Housing

Case-Shiller Is Ugly Again: Home Prices Dive 1.6% In November

• Businessinsider.com/ & ZeroHedge.com
 
Something funny happened on the way to the "wealth effect": we call it affectionately, the "poverty effect." At least for those who have homes. The November Case Shiller index confirmed that the double dip in housing is accelerating, with the composite index posting its 5 sequential decline. The 20 city composite came at -1.59% Y/Y on expectations of a rebound to 1.7%. Perhaps the Chaircreature should finally consider lowering those mortgage rates instead of focusing so much on the Russell 2000. What we are amazed by is that all that abundant California snow was not blamed on this one particular negative surprise.

1 Comments in Response to

Comment by Olde Reb
Entered on:

 notice that Wasington has the best performance.


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