"No real surprises here as the Case Shiller housing report shows continued declines in housing prices. The lack of government involvement, negative seasonal trends and generally poor fundamentals are resulting in continued home price declines throughout much of the country.
I don’t think this is any reason to panic, but it does increase the risk that the recovery could become increasingly fragile. For now, I am still expecting stabilization in the middle portion of 2011 and then a general stagnation in the market. The negative fundamentals combined with continuing consumer weakness should keep any substantive housing recovery from reemerging..."
at http://pragcap.com/case-shiller-housing-index-continues-is-descent
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