The Case Shiller 20-city home prices report this morning was more of the same. Down (of course) but not as bad as expected.
One bright spot – your tax dollars are fueling quite a party in DC and its surrounding suburbs. It’s like a goddamn goldrush out there as lobbyists, lawyers, politicians and their minions gorge themselves on the carcass formally known as non-corporatist democracy. Here’s some color (emphasis mine):
The 10-City Composite was down 2.0% and the 20-City Composite fell 3.1% from their January 2010 levels…San Diego and Washington D.C. were the only two markets to record positive year-over-year changes. However, San Diego was up a scant 0.1%, while Washington DC posted a healthier +3.6% annual growth rate.
Now if only we could central plan from California or Florida – just imagine the housing comeback!