Tumblr Icon RSS Icon

More Lagging Data on Terrible Q1

By Matthew Yglesias  

"More Lagging Data on Terrible Q1"

Share:

google plus icon

New bad data about the past:

Prices of U.S. single-family homes fell 18.7 percent in March from a year earlier, while prices in the first quarter dropped at a record pace, according to the Standard & Poor’s/Case-Shiller Home Price Indices released on Tuesday.

Remember, of course, that we already had a huge pile of data indicating that economic performance in Quarter 1 was absolutely horrible, so this should come as no surprise. But when it comes to housing (rather than say, unemployment) there really is a need for prices to come into line with fundamentals, so there’s a case to be made that steeper falls are better since they mean we’ll hit the bottom sooner.

Tags:

‹ At Last, Someone to Stand up for the White Man!

The Hedo Factor ›

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.