I admit it.
The headline is almost too upbeat. Too optimistic. Too bright and bouncy. Too bubbly. Too rose-colored. Too bright-eyed and bushy tailed. Too much like one of those old pronouncements from the Bush White House. And, yet….And, yet….
home prices in 20 U.S. cities, says Bloomberg, “rose in October for a fifth consecutive month.”
This is all based on the S&P/Case-Shiller home price index which is to the housing industry what the burning bush was to Moses.
Of course, there are some little, tiny, don’t worry too much about it,items that make me think back to that fake “kid trapped in escaped balloon” story where the balloon also went up! up! and away!At least, that is, till it came eventually back down to earth.
For one thing, the index is still down 7.3 percent from October 2008.
For another thing, foreclosures are still poised to set new records in the months ahead as […]
Original post by Charles Feldman and software by Elliott Back
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