Tuesday, Jul 29, 2008
What now, Kaletsky?
Guardian: US house prices fall at fastest rate on record
US house prices plummeted at their fastest pace on record in the year to May.
Standard & Poor's Case Shiller home price index fell 0.9% in May from April and 15.8% from a year ago. This is the biggest annual decline since the series began in 2000.
The sharpest declines in the index were in Las Vegas and Miami, where prices fell 28% on the year.
Posted by little professor @ 04:57 PM (214 views) Add Comment
1 Comment
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1. drewster said...
How can this be happening? Just yesterday, Anatole Kaletsky told us that US house prices are rising!
Anatole's figures were from the National Association of Realtors - possibly the most biased group of VIs out there.
The Guardian's figures are from the Standard & Poor's / Case-Shiller index, which is fairly unbiased.