US Housing Prices Still Declining

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US Housing Prices Still Declining

By David Spurr on August 25, 2009 | More Posts By David Spurr | Author's Website

CNBC is talking about how good the Case Shiller numbers are. I think that the numbers are terrible. We’re showing 16% declines year over year. This is not a huge recovery. We’re talking about an improvement in the rate of decline.

When you think about the trillions of dollars in stimulus that have been dumped on the economy and this is the best we can muster: -20% to -16%.

What will happen when the Fed slows down the printing presses? I think we all know what will happen, especially if unemployment is running at 9.5%.

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