On June 3, Standard and Poor’s issued the latest update to its Case-Shiller Home Price series.
The press release begins, “Data through March 2011 ... show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in the fourth quarter of 2010. The National Index hit a new recession low with the first quarter’s data and posted an annual decline of 5.1% versus the first quarter of 2010.”
Then comes the key statement: “Nationally, home prices are back to their mid-2002 levels.”
Uber Editor:
Vancouver, Toronto and some place in OZ and China will crash like The Sunday News of the World.
Vancouver, Toronto and some place in OZ and China will crash like The Sunday News of the World.
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