I guess it is all in whose stats you read.
This from Coaching Clues Newsletter: The Sky Is Not Falling!
They point out that despite the media darling Case-Shiller index, the better indicator of the indices is provided by OFHEO (the Office of Federal Housing Enterprise Oversight), Realogy and NAR. These three organizations seem to validate one another's results.
They all have come to the same conclusion:
"Overall U.S. prices were UP 0.6 percent....In other words, a whopping 77 percent of the areas in the U.S. reported a price increase in January 08 - February 08! The Case-Shiller Index, in contrast, concludes that 95 percent of the MSA's reported negative returns. "
Bernice has been at the forefront on preaching the positivity as we have at positiveonrealestate.com.
I believe that this economic situation is way overblown and so is the housing crisis. It cannot be a meltdown when you continually hear of multiple offers occurring across the country.
By blogging and posting great real estate news you can help counter the negative impressions that get published daily in the traditional media. You can be a leader and can help form the public impression on housing.
This is added as they posted part II:
You gotta read this whole thing:
According to the methodology materials, the S&P/Case-Shiller index does not include price data from 13 states. Market conditions in those thirteen states have, on average, been stronger than in the rest of the nation.