Case-Shiller from 3 months into the future

Wednesday, March 31, 2010

March '10 price crash

As you may have heard, the Fed has recently ended its mortgage-backed security buying program. Furthermore, Bank of America is increasing the foreclosure rate of its properties, from 7,500 homes a month nationally, with the goal to increase that number to 45,000 homes per month by December of 2010. On top of that, there's evidence of increased strategic defaults, and the $8,000 first-time homebuyer credit is about to expire.

All these factors, combined, appear to have created a perfect storm in the housing market. Just in the last month alone, all San Diego sub-markets crashed 10+% across the board, and it looks like the decline will only accelerate from this point on.

3 comments:

Jakob said...

Wow that is so severe I would suspect a glitch in the input data...

Jakob said...

Damn I hate April 1.

Credit said...

I want to inform everyone about CreditBlossom.com that is a resource and a tool that assists you in repairing your credit easily, correctly and quickly--for Free. That's why we created CreditBlossom.com. We're here to clear away the clutter and guide you, step-by-step, through the credit repair process.

Credit Repair