Housing Crisis: Case-Shiller Index Reveals 13% Price Drop
May 27th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsThe US housing crisis looks sets to deepen after S&P’s/Case-Shiller Home Price index showed that home prices in 20 US cities fell almost 13% in February from a year earlier. This from AP:
“Month-to-month, it gets consistently worse,” said David Blitzer, chairman of the index committee at S&P, noting that February also marked the sixth straight month that all 20 cities experienced declines. “The slope is one direction. There is no sign of a bottom.”