Standard and Poor’s reported that home price declines are continuing at an accelerated pace, the Case-Shiller 20-City Home Price Index dropping 1.0 percent in December for the second straight month, now down 2.4 percent from a year earlier. On a seasonally adjusted basis, the index fell 0.4 percent in December after a drop of 0.6 percent in November.
The quarterly National Home Price Index showed an even steeper decline, home prices falling some 4.1 percent from the fourth quarter of 2009 to the fourth quarter of 2010.
The monthly data showed declines in 19 of the 20 regions, Washington D.C. being the lone exception where home prices rose 0.3 percent. Declines were paced by a 2.6 percent plunge in Tampa, a 2.3 percent drop in Detroit, and a decline of 2.0 percent in Seattle.
Eleven regions posted new record lows since the price peak five years ago – Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, Seattle and Tampa – New York and Phoenix just added to this group in this report.
![[Most Recent USD from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
Really??!!?
But in a news clip at the opening of 60 minutes a CBS reporter, quite matter of factly, claimed that home prices rose 3.5% over last 12 months.
Reminiscent of the priceless comments by Russell Simmons during deposition,
>In his evidence, Mr Simmons shows that he sees himself as the chief marketer of his fashion line. He said the figures in a 2003 Newsweek article reporting Phat Farm’s sales at $US340 million “accurately reflected my optimism or my brand position statement, [...] In other words, did I say it? I was hoping it would sound good,” and “maybe by that year the gross numbers were there. I don’t know.”
Throughout his testimony, Mr Simmons appeared unreserved, offering some lengthy answers and cursing. Yet shortly before he was to be asked about comments he made to The New York Times in 2003, he asked, suddenly: “It is not going to come out, right, about me lying to everybody? Right?”
http://slumz.boxden.com/f5/may-16-russell-simmons-lied-about-phat-farms-sales-277529/
Tim, where’s the rainbow? Come on.
[...] wouldn’t be much of a Realtor if I didn’t know that yesterday, the Case-Shiller Index showed declining house prices in most U.S. cities. While Professor Case is still an optimist, Mr. [...]