U.S. single-family home prices dropped in March, dipping below their 2009 low, as the housing market remained bogged down by inventory and weak demand, a closely watched survey said Tuesday.
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Statistical data on housing prices seems accurately reported. A table of inflation adjusted and raw prices would have clarified the info.
Perhaps a reflection of the right wing major effort to stop all stimulus spending, and slam the economy into reverse by chopping public sector jobs. If the economy tanks, they think they can defeat Obama by blaming their sabotage upon his policies.
There are many reasons, but ultimately, the housing market will not "recover" for a long time. Backlogged inventory, pending foreclosures, tighter lending standards, high unemployment, high property taxes and on and on. Government intervention caused the circumstances that resulted in the housing bubble. Without the government reinflating that bubble the "normal" housing market will not resemble what most American home owners have grown accustomed to.