The October S&P/Case-Shiller data were released yesterday. The drop is getting steeper, now including August's mortgage meltdown. Los Angeles (includes Orange County) is now down 8.9% from its peak in September 2006 - 1.9% from September, which was 1.2% from August. The national index is down 7.3% from its peak in June 2006 - 1.3% from September, which was .7% from August. See Calculated Risk yesterday for more discussion.
Thursday, December 27, 2007
October Case-Shiller
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1 comment:
Too bad case-shiller doesn't measure new homes, duplexes, or condos. The existing SFH market in LA contained the most flippers, naturally, because speculators were improving existing homes. Therefore, case-shiller will show the most dramatic bubble. Just keep this in mind.
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