To me the value of a house is as a place to live and to raise my children. The actual price never really mattered to me.
So this story doesn’t bother me in the least:
A widely watched housing index shows home prices dropped in February, but for the first time in 16 months the decline was not a record.
The Standard & Poor’s/Case-Shiller index of home prices in 20 major cities released Tuesday dropped by 18.6 percent from February 2008, slightly better than the 19 percent in January. The 10-city index slid 18.8 percent, compared to 19.4 percent the month before.
For decades I have heard the cry of “affordable housing”. If prices drop doesn’t that mean that housing is more affordable? Isn’t that a good thing?
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