The graphic accompanying the release of the October 2008 S&P/Case-Shiller Home Price Indices looks like a country in free fall -- home prices down some 20 percent from this time last year, sweet fancy Moses. Of course, locals will take cozy comfort in this paragraph from the morning news release:
Dallas and Charlotte faired the best in October in terms of relative year-over-year returns. Still in negative territory, their declines remained in low single digits of -3.0% and -4.4%, respectively. It should be noted, however, that both of these values are worse than those reported in the September data.
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