A Further Collapse in Housing Prices. -7.28%

[Neubarth]

Case Shiller says that home values continue to plummet. So much for the Obama administration reports for a housing recovery. That fall, by the way, -7.28% is beyond what the market fell to last year. It just keep falling with all of those foreclosure auctions.

 

[editec]

Is the Obama administration reporting a housing recovery?

I haven't really read that.

What I read is that the rate of declining prices was improving.

 

[uscitizen]

Good, Housing prices are getting closer to where they should be.

 

[Neubarth]

But then we have the Obama led Washington spin on the data:

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Home Prices Rise Again in October- AP Washington

Home prices rise for the fifth month in a row in October, but the recovery continues to be uneven with only 11 of the 20 metros tracked showing gains. The Standard & Poor's/Case-Shiller home price index released Tuesday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October. The index was off 7.3 percent from October last year.