AP
S&P: Home prices drop by record amount in 2Q
Tuesday August 26, 10:27 am ET
From this article:
"While there is no national turnaround in residential real estate prices, it is possible that we are seeing some regions struggling to come back, which has resulted in some moderation in price declines at the national level" said David M. Blitzer, chairman of the index committee at S&P."
This reminds me of a somewhat apocryphal article that appeared in a New York Newspaper in 1939 near the end of the 1939 baseball season that talked about the inevitable comeback of Lou Gehrig. I say apocraphal, because I've never been able to find a copy. The sentiment was, of course, "He's down, but not out." Well, guess what? He was out.
Even with the history I know, I think that if I could go back in time, I'd still bet on Lou Gehrig before I'd bet on today's U.S. Housing market. Bull
