A Faltering Housing Market?

George may have left office a year ago, but there appears to be a growing consensus that the likely shape of the recovery will be a “W.”  How appropriate, if you believe that we are reaping the bitter fruit of his administration’s policies.

A front page article in the Business Section of last Wednesday’s New York Times, grimly entitled An Upturn in Housing May be Reversing,” pulls together recent and contradictory data from various sources, including Case-Shiller, Moody’s, and The National Association of Realtors.  The conclusions are sobering. ...  Additional Details

Update to Halloween Horror: Did it just get scarier….??

The day after I posted my take on the Case-Shiller Index, they came out with July’s report (they’re always trailing three month averages) showing a continuing decline in the San Francisco MSA.  Wait for it:  down 27.3% from July 2007.  Are we worried?  Not that much.  Why not?  Read my October 27 blog:  “San Francisco” means most of the Bay Area when it comes to the Case-Shiller Index.

You want scary?  Median prices are down 45% year over year in Contra Costa County. ...  Additional Details