23.06.2011 - Real estate’s in the tank? Not in the land of IPOs
It’s been what my grandmother would call “a month of Sundays” (i.e., a long, long time) since we’ve heard of a local housing market that wasn’t in the doldrums. In fact, much of the country is now officially in the double-doldrums, according to the most recent S&P Case-Shiller National Home Price Index, which revealed that in the first quarter, national home prices hit a new recession low. Yes, even lower than they were at their previous 2009 trough. This spring, even real estate markets that had been relatively recession-proof at the beginning of the bust, like those in Minneapolis and Seattle, took dives late in the game, causing the New York Times to doomsay “another season of pain.”.............................................Full Article: Source
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