Once again, the Case/Schiller Index has lived up to its name. All summer long, real estate shills have used it to jack up homebuyer confidence and fluff the housing market. Now, they are doing it again. Just look at the bullshit headlines coming out today:
U.S. Economy: Home Prices Increase by Most Since 2005 . . . US home prices up for third month . . . Index shows home prices rose for 3rd month in July . . . Money Daily Brief: US home prices rise for third straight month . . . Home prices gain for 3rd straight month . . . Denver home prices rise again, getting closer to 2008 levels
Most of this unbridled optimism is based on the just released Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index data for the month of July, which showed that home prices went up by 1.2% since June. A one-point-two-percent month-over-month increase? Ain’t that something! (more…)
September 29th, 2009 | Comments (3)
