S&P/Case-Shiller May 20-City Home-Prices Fall 15.8%

[harry123]

Source: Bloomberg News

Home prices in 20 U.S. metropolitan areas fell at a faster pace in May, indicating the three-year housing slump has not stabilized, a private survey showed today.

The S&P/Case-Shiller home-price index dropped 15.8 percent from a year earlier, the biggest decline since records began in 2001, after decreasing 15.2 percent in April. The gauge has fallen every month since January 2007.

Stricter loan rules, rising mortgage rates and an increase in foreclosures are making it more difficult for prospective buyers to get financing, hurting home sales. The prolonged real-estate slump, along with higher fuel prices a shrinking job market, is weighing on consumers and the economy.

Read more: http://www.bloomberg.com/apps/news?pid=20601110&sid=a1ikgtmfigTw

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No comment for now. I might post the data in a graph on my blog www.creditwritedowns.com later.

[harry123]

1. Here are the graphs

http://www.creditwritedowns.com/2008/07/case-shiller-time-machine-may-2008.html

[Indenturedebtor]

2. How's that song about London Bridge go again?

Boy this sure is fun watching my supposed financial anchor dissapear in front of my face!

[jayfish]

3. Worst Headline Ever.

Is there some space consideration I'm not aware of on the internet tubes that requires these line writers to communicate in code? Please, please stop trying to shoehorn an entire sentence into three words.

Jay