Tuesday, April 28, 2009

It's All Good!

No, it's NOT from The Onion - sorry:

"April 28 (Bloomberg) -- Home prices in 20 major U.S. metropolitan areas dropped in February at a slower pace, adding to evidence the market may be stabilizing.

The S&P/Case Shiller index's 18.6 percent decrease compares with a record 19 percent decline the month before. The gauge has fallen every month since January 2007, and year-over-year records began in 2001. For the first time since the measure started dropping in 2007, the 20-city index didn’t post a record year-over-year decline in February."

In case anyone is confused - you are supposed to be bullish because the housing index did not post a RECORD decline for the 14th straight month. It only posted a massive decline, not a record decline, so things are getting "better."

good luck with that.


1 comment:

Anonymous said...

For anyone thinking we are anywhere near out of the woods, check out X's first quarter report released yesterday.