CNN is reporting the Case-Shiller index of home prices in 20 US markets fell a record 18 percent for October. The CSI is always about six weeks behind the times, but the numbers are still bad bad bad given that the effect of the housing markets on the rest of the economy can reverberate for months down the road.
If housing prices are still falling (and this confirms they are and will be well into 2009) there's no real chance at recovery for the economy in the forseeable future.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment