S&P/Case-Shiller released its November home price index numbers. Washington, DC metro area home prices fell 2.4% month-over-month, 19% over the past year, and 28% since the market peak in May 2006.
According to the Bureau of Labor Statistics, inflation has pretty much vanished. (Thank falling energy prices.) This means nominal and real house price decline numbers are roughly the same over the past year.
Wednesday, January 28, 2009
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