Case Shiller Housing Composite Flips Negative
For first time in over a decade, the Case Shiller Housing Composite flipped negative; I'm sure this is utterly meaningless, and is nothing to worry about whatsoever:
"January data released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices in the United States, shows home price composites plummeting into negative terrain.
“The annual declines in the composites are a good indicator of the dire state of the U.S. residential real estate market,” says Robert J. Shiller, Chief Economist at MacroMarkets LLC. “ The 10-City and 20-city Composites are both showing negative annual returns, a striking difference from the 15.1% and 14.7% returns they reported this time last year. The dismal growth in the 10-City composite is now at rates not seen since January 1994.”
Unless the actual data matters to you, and you are uninterested in becoming a serial bottom caller in Housing.
But other than that, nothing to worry about here . . .
The New Year Begins With Negative Returns According To The S&P Case-Shiller Home Price Indices
Mar 27, 2007 09:00 AM EST PDF
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Tracked on Mar 27, 2007 12:30:25 PM
Serial bottom-caller for the housing market sounds like a good career path, with guaranteed employment for at least the next 10 years.
Posted by: jm | Mar 27, 2007 11:30:01 AM
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