Out today is the latest S&P/Case-Shiller® Home Price Indices, which reveals that prices for existing single-family homes across the U.S. are declining -- even in Dallas, which showed an overall 0.1 percent drop in prices from October 2006 to October '07. Also: Prices have been dropping steadily since August, with declines of 0.7 percent from August to September and 0.8 percent from September to October.
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Says economist Robert Shiller in the media release announcing the declines: “No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim.” In related news, I still don't think I can afford Felisha Contrell's house on Strait Lane. --Robert Wilonsky