neither see or appreciate Steve Hanson's point of view....
The 1st chart is the usual CS report with the 10 & 20 city plus the national data.
The 2nd chart compares the CS report with the NAR report
The 3rd chart shows U.S. the impacts of "foreclosure" - with & without.
My problem with Steve's argument is that his charts may not show what he is seeing.
First, the NAR vs CS chart does not show that, it is more like the new jobless claims chart - while things did collapse, they now appear to be either improving very slowly, or we are on a plateau.
Second, the least expensive home appear, in most markets, to have bottomed out. While they are not going up, they are not going down further. What we DO see, however, is that jumbo sized and above RE properties are now, finally, in free fall. There still is little to no financing, also condos, and few if any buyers.
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Shiller Data Confirms Opinion That Second Dip in Home Prices Is Underway
http://seekingalpha.com/article/239338-case-shiller-data-confirms-opinion-that-second-dip-in-home-prices-is-underway?source=dashboard_macro-view
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