S&P just published their new Case-Shiller index.
It shows a new nation-wide decrease in home values, following their announced "double dip " recession in housing.
The list of MSAs they considered in the study, again, is fascinating. Houston is not included. It happened before. If our memory serves us, Houston MSA ranks usually between 1st and 4th in the nation in homes sales. The last explanation I had seen for this omission amounted to the elimination of a sub group that did not fit the model. If the sample does not return the results you want, change the sample.
After all this come from a group of people that gave A ratings or higher to some sub prime mortgage bundles. And they are still in business.
Let us take everything S&P and the rating brotherhood publishes with a grain of salt....even when they threaten to lower the US credit rating.
