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Maybe these people don't believe the Case/Shiller numbers that make the headlines every month.
Oct 30 18:51 pm
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All Comments by Tom Armistead »Home Price Reality Check [View article]
Case/Shiller does only 20 metropolitan areas and overweights recent transactions. The decreases they give out reflect the worst case - someone who bought at the peak and got foreclosed.
Mark to market accounting doesn't apply if you don't have to sell.