The January Case-Shiller Home Price Index is out, and it's the usual doom and gloom we've come to expect, including an overall 19% year-over-year tumble in the 20 monitored metropolitan areas, a record drop that slightly edged out last month's record drop. Said the chairman of the index committee, "There's no daylight that I can see in this report." Yikes! Well, the "good" news is that the rate of decline in existing home sales in New York City slowed a bit from December to January. Huzzah! [NYT]
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