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May 31, 2011

Housing double-dip shocker: US home prices fall to new recession low

Topics: Political News and commentaries

More evidence of all that hope and change rhetoric of 08 being nothing more than - rhetoric - and that Obama was and is nothing more than a vague, empty vessel into which naive, Americans then and now pour their hopes and dreams in vain: Housing Shocker: Home Prices Still Falling.

The housing double dip is official: US home prices fell in the first quarter to a new recession low, according to the latest S&P/Case-Shiller price index.
It's not all bad news though. The report goes on to note that Stock-market futures have responded by adding to their gains. Dow futures are up 108 points, S&P up 12 points. Ten-year Treasury yields are unchanged at 3.09%.

In other words, despite all his efforts to destroy it, the free market is still in play.

However, back in 'realityville' where most Americans live - food-price inflation continues as higher crop, meat, dairy and energy costs lead companies including Nestle SA, McDonald's Corp. (MCD) and Whole Foods Market Inc. (WFMI) to boost prices.

Posted by Abdul at May 31, 2011 9:28 AM

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