If the news in residential real estate isn't depressing enough already, here comes this N.Y. Times article about further price declines. The Case-Schiller index, which tracks housing values in the Top 20 metropolitan areas, saw a SUBSTANTIAL decline in values from February to March. Predicted to lose about 1+%, the index instead slumped 11.6%. Ouch.
Is Richmond bucking the Case-Schiller trend? Are there signs in the residential real estate market HERE to be hopeful about? More on this later. Right now I am going to have more coffee and try not to be TOO overwhelmingly depressed about my chosen profession. Power of positive thinking and all that, you know.
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