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Now the Double Dip in Housing is Official

A few weeks ago, I wrote that home prices had double-dipped. And last week, that was officially confirmed.

The S&P Case-Schiller home price index fell 3.6% in March, the eighth consecutive monthly decline. And the report “is marked by the confirmation of a double dip in home prices across much of the nation”.

The news was already bad a few weeks ago, when Clear Capital reported that “prices have double-dipped…below prior lows experienced in 2009”.

Today the news looks really bad: Case-Schiller reported that “nationally, home prices are back to their mid-2002 levels”.

And worse than that, according to Capital Economics, housing is now in a depression: “on the Case-Schiller measure, prices are now 33% below the 2006 peak…this means that prices have now fallen by more than the 31% decline endured during the Great Depression”.

Of course, there were other factors that made the Great Depression what it was: the markets dropped 75%, GDP declined 30%, and unemployment hit 25%.

But the problem we are facing today is that, typically, the economy can rely on housing to serve as a driver during a recovery. But that’s not happening this time. This time housing has proven to be more of an economic anchor instead.

Navigating the Pitfalls of Annuity Investments

At Rezny Wealth Management, we prioritize transparency, education, and the long-term financial well-being of our clients. One area where we differ from many other financial firms is our approach to an

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