Market Mover Tuesday: Case-Shiller Housing Index…

Just released Case-Shiller Housing Index:

10 of 29 Metro Areas show record rates of annual decline

15 metro areas showed price declines of over 10% vs Feb of 08

10 city composite posts annual decline of 18.8% in February

20 city composite down 18.6%

here is how CNBC morning crew is spinning this to be a good number:

Annual home price decline did not set a new record for the first time in 16 months

well alrighty then, let me pop my Korbel cork right now, LOL…..

So the Delta is slowing, that would be IMO the foreclosure sales, however we still have a RECORD inventory out there and with the foreclosure moratoriums ending I suspect prices will fall farther as those ‘shadow inventory’ short sales hit the market…but by all means it is good if the rate of decline would frakkin slow or better stop…or you know actually show an increase in value, HA!

Dow futures are sharply lower after the Dow ended yesterday down 50+, futures down -103 before the open…

*VH House of Pain courtesy of 5150EVH5150

*Straight off of the Gene Simmons Demos, the House Of Pain! Its basically just the basic riff from the 1984 HOP, with different choruses, different verses, and a different solo. The Intro and outro to the solo are also in the 198 HOP, although in different places here. Enjoy!