As would be expected, today's headline has everyone in a panic:
NEW YORK (AP) -- U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor's began its nationwide housing index in 1987, the research group said Tuesday.
Reality Check:
Let me put my economist's hat on for one of those rare occasions -- I need to justify that degree, after all ---- and explain why this development is a GOOD THING:
First,....... (well, never mind: if anyone really cares, send me an email and I'll carry on.)
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