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Read the fine print... S&P Case-Schiller Data Inaccurate and Skewed!

 It seems that EVERYONE wants to jump on the doom and gloom of the Real Estate Market nowadays without ever REALLY figuring out what the data means.  The post jumped out at me yesterday from the Inman Blog.  "Case-Shiller: Home prices drop in 19 of 20 metros"
Now typically I take everything with a grain of salt, but yesterday I just about jumped out of my chair.  After months and months of compiling information for one of the most in-depth market reports of Chicago ever, (See Report Here) I knew for a fact that Chicago HAD TO BE that one metro area...  Well it wasn't and I was p*ssed.
The data, accoring to Inman and the S&P website stated that, "A monthly home-price index that tracks 20 major U.S. metro areas dropped 12.7 percent in February compared to the same month last year.  Nineteen of 20 metro areas in the monthly S&P/Case-Shiller index experienced annual declines in February, with double-digit percentage declines in 10 metro areas."  (Read their full press release here)
Then continued with, "There is no sign of a bottom in the numbers," said David M. Blitzer, chairman of the Standard & Poor's Index Committee, in a statement.
The worst areas, according to the ... more

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