There’s two ways to take off a Band-Aid…..
by Tom on June 24, 2008
in Uncategorized
Home prices in another steep drop – Jun. 24, 2008: “The S&P/Case-Shiller 20-city Home Price Index fell to a record low of 15.3% on a year-over-year basis, and was down 1.4% from March. The 10-city index was down 16.3% year-over-year and 1.6% for the month.”
You can rip it off milimeter by milimeter and it takes a long time and hurts a little for a long time. Or you can rip it off all at once and it hurts a lot for a short period.
Until we get housing prices and incomes back in line, it’s going to be painful. The fact that this index shows they are adjusting means we are making a step down the road towards finding a bottom and going up from there.
Does that make sense?
Tom
