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  • Case-Shiller Shows House Prices Are Double-Dipping [View article]

    I usually enjoy your comments; they are typically thoughtful. This one is just narrow minded though. If we lived in a world with no interdependency, then fine, who cares what is going on in Phoenix and Vegas. Unfortunately, as more homeowners dip into negative equity, they pull back on spending and are more likely to default. You no doubt know where the train of logic goes next...

    So, it does matter what happens in Vegas and Phoenix and it the other 16 MSAs that showed accelerating price declines in Oct. It may not directly affect the value of your home, but it will affect the economy.
    Dec 28, 2010. 06:07 PM | 1 Like Like |Link to Comment
  • Case-Shiller Shows House Prices Are Double-Dipping [View article]
    bbro, i don't recall anyone complaining about Vegas and Phoenix being in the index when home prices were running up and people like you were making the case they could never fall.

    Oh and by the way, Philly is down 3.51% year over year according to CoreLogic. While we're at it, St. Louis, which you complained was excluded from the index last month, is down 7.5% year. Houston up 3.5%; woo hoo!

    CoreLogic which tracks many more MSAs than Shiller also shows broad based and accelerating declines across the country. Replacing Vegas and Phoenix with Houston and Philly will not change that basic fact.
    Dec 28, 2010. 04:48 PM | 1 Like Like |Link to Comment
  • Case-Shiller Shows House Prices Are Double-Dipping [View article]

    Every single market in the Case Shiller 20 was down in Oct over Sept. and 19 of 20 were down in Sept. over Aug... and you are cherry picking Houston and Philly because Phoenix and Las Vegas just aren't good enough for you. Please...

    This drop is wide-spread, now four months long and impacting markets like Seattle, Portland, Denver, Dallas and others that held up well in the first downdraft.
    Dec 28, 2010. 11:40 AM | 5 Likes Like |Link to Comment
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