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San Diego County home values declined 0.7% from November to December, according to data released this morning by Standard & Poor's/Case-Shiller. Of the 20 major metro areas, only Washington, D.C. enjoyed an increase over the period, and that was only 0.3%. On a year-over-year basis, San Diego and Washington were the only major metro areas to register increases. San Diego was up 1.7% and Washington was up 4.1% from a year ago. Overall, the national home price increase dropped 3.9% during the fourth quarter of 2010. That was the biggest drop since the third quarter of 2009, when prices declied at an 8.9% annual rate."Despite improvements in the overall economy, housing continues to drift lower and weaker," says David M. Blitzer, S&P economist.

Comments
4

Well, I think it is safe to say we are in a depression, at least for the poor and middle class America.

The economy has been in the toilet since late 2007 and has not really improved at ALL.

I think our deficit spendings is so out of control it has put our entire country in immediate and serious threat of potential chaos and anarchy.

I predict Obama is going to be pushed out of office in two more years, one termer. And to be honest he has been a major disappointment to me and many others.

These clowns all talk a good game and then they get into office and nothing happens.

Feb. 22, 2011

The so-called recovery is mainly from liquidity created by the Fed and Treasury -- and by other central banks and governments throughout the world. In short, we have competitive devaluations worldwide again, but nobody will call it that, remembering the 1930s. The liquidity has pumped up the stock markets, so those in the upper income brackets have more to spend. Their spending is propelling the economy, for the most part. Without all the liquidity, the so-called recovery would be very thin. It's hard to have a real recovery without housing. And we're not getting a housing recovery. Best, Don Bauder

Feb. 22, 2011

Don, the liquidity created by the Fed is being created out of thin air, and it has created NO JOBS, zero, nada, none. No jobs=no housing. No housing= no recovery.

I think I am turning on Obama, he has spent a lot of time and energy on questionable and controversial issues, like healthcare. Don't get me wrong, I think healthcare is a very serious and important issue, but NOW is NOT the time to be working it. I am fairly positive his entire success will be struck down by teh SCOTUS anyway as unconstitutional and that will make it an even bigger waste of time and energy.

We need to develop a comprehensive plan to KEEP our manufacturing jobs.

The ONLY person I see on the national scene doing anything about our economic problems is Donald trump-and as much as he bothers me with his King Kong sized ego he is on the money. Why isn’t anyone else talking the way Trump does???

Feb. 23, 2011

I'll go one step further. It's not just that the liquidity has not created jobs. The continuation of liquidity DEPENDS on unemployment remaining high. Fed Chairman Ben Bernanke has said he will continue QEII (the program by which our central bank is buying up debt in the marketplace) as long as unemployment stays high. Banks are getting loans for next to nothing. They can borrow at close to zero and do what they want with it. So do you think these banks want unemployment to go DOWN? Then Bernanke might take away the punchbowl. This is just one more aspect of a plutonomy, or an economy that relies on spending by the superrich to grow. Of course, a plutocracy, or government by the rich, goes hand in hand with a plutonomy. Best, Don Bauder

Feb. 23, 2011

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