This chart is brought to you by the Mess That Greenspan Made and the S&P Case Shiller Index.
My goodness the prices just keep getting lower and lower. Let's just file this one under "You Ain't Seen Nothin' Yet."
Miami - wow. Los Angeles - whew - I'm feeling dizzy. Every single market is declining and many have just started but those steep curves for LA and Miami are something to behold.
Oh how I remember the days when the US housing bubble bloggers were being lambasted for saying that house prices were going to fall - many critics said it couldn't happen and that their area was different. Sweet vindication of their point of view only soured by the knowledge that real families are being financially ruined as we speak.
Coming soon to a city near you.