Case-Shiller Index Plunges a Record 19%

"Is this the recovery that everyone is buzzing about right now? The Case-Shiller Home Price Index for January was just released a few minutes ago. Its survey of home prices in 20 cities dropped a record 19% year-over-year. This is slightly worse than the 18.6% decline that economists were looking for and it represents an acceleration in the decline on home values. Month-over-month prices dropped 2.8%. This compares to a drop of 2,6% from November to December. "