It’s All Good!

No, it’s NOT from The Onion – sorry:

April 28 (Bloomberg) — Home prices in 20 major U.S. metropolitan areas dropped in February at a slower pace, adding to evidence the market may be stabilizing.

The S&P/Case Shiller index’s 18.6 percent decrease compares with a record 19 percent decline the month before. The gauge has fallen every month since January 2007, and year-over-year records began in 2001. For the first time since the measure started dropping in 2007, the 20-city index didn’t post a record year-over-year decline in February.”

In case anyone is confused – you are supposed to be bullish because the housing index did not post a RECORD decline for the 14th straight month. It only posted a massive decline, not a record decline, so things are getting “better.”

good luck with that.

-KD

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