Case Shiller is out, and it confirms what we have known for quite some time: Without artificial government stimulus, Housing is going lower.
The double dip in Housing has now been officially recognized:
“Data through March 2011, released today Case-Shiller Home Price Indices show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in the fourth quarter of 2010. The National Index hit a new recession low with the first quarter’s data and posted an annual decline of 5.1% versus the first quarter of 2010. Nationally, home prices are back to their mid-2002 levels.”
A Closer Look at the Second Leg Down in Housing (June 24th, 2010)
This post originally appeared at The Big Picture and is reproduced here with permission.
One Response to “It’s Official: Housing Double Dip Is Here”
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