Wednesday, March 07, 2012

Congratulations, it's another Obama record! Home prices 'down to nearly the same levels as 10 years ago'

Say, I've got an idea! How about another massive, taxpayer-funded rescue package for distressed homeowners? The ninth time is a charm, right?

...national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January 2012 and by 1.0 percent compared to December 2011, the sixth consecutive monthly decline.

...Excluding distressed sales, year-over-year prices declined by 0.9 percent in January 2012 compared to January 2011, but that same metric posted a month-over-month gain, rising 0.7 percent in January. Distressed sales include short sales and real estate owned (REO) transactions.

“Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago,” said Mark Fleming, chief economist for CoreLogic.

I guess I have to update my Complete List of President Obama's Historic Firsts.


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