NY Times: Hatches still battened down?
U.S. Home Prices May Be Approaching a New Dip. “The Standard & Poor’s/Case-Shiller home price index, a closely watched measure of 20 metropolitan areas, barely rose in September, increasing 0.3 percent on a seasonally adjusted basis. Nine of the cities in the index fell in the month, including Boston, Charlotte, New York and Seattle.” I’ve been waiting for the second dip, not out of pessimism, but out of an optimism that we have to let it get *really* awful before recovery can begin. Recovery *will* come, but not through artificial props.
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