Wisdom-Seeker

Case-Shiller Housing Index Continues to Slide

I suspect this set of data will prove to be a tipping point, though the market hasn't clued in just yet. The data clearly show that the current real estate crunch is worse than the 1990 crunch. The only historical periods that are in the same league are the early 1970s and the late 1920s. Neither of which bodes well for the world.

As an added tidbit - the latest Case-Shiller monthly data show that the downtrend accelerated in fully 19 of 20 markets. And Tampa only improved from a -1.8% drop to a -1.4% month-over-month drop, which is hardly reassuring. The problem is national and the actions taken prior to the November sales failed to slow the rate of decline.