Housing Correction Perspectives - Case-Shiller

The Case-Shiller Home Price Indices examine home prices in 20 large cities. According to those indices, as of July (the most recent data), the only housing market where prices were lower than they were in January of 2000 is Detroit.

All of the media hysteria relates to home values compared to one year ago. What is seldom, if ever, mentioned is that home values were utterly unrealistic one year ago (in SOME locations).

Click the image to enlarge:

I personally created the above chart.
Source: This spreadsheet downloaded from this page
(July 2008 data published on 9/30/08)

Click here for a broader perspective
on the housing correction.