Case Shiller 3/10

The good news is that nationwide home prices have stopped falling, for now. March saw the second consecutive month of annual price increases. That is great news for banks and builders. Stabilizing their balance sheets is a key ingredient to their recovery.


The not so good news is that the price recovery looks quite feeble. Considering the effort the FED has put into keeping rates low and the amount of money the Govt has spent towards pushing prices up one would certainly hope for better results. Once the home buyer credit expires there appears to be very little to prop up prices. I'm going to hold my forecast of 2010 price declines of 4%-7%-10%, for low end, middle and high end homes, respectively