“In summer 2009, the seasonally adjusted S&P/Case-Shiller Home Price Index rose for the first time in virtually two years. Since May 2009, the index has risen by over 3%, suggesting that the necessary correction to U.S. residential home prices is nearing an end.
However, in Standard & Poor’s Ratings Services’ view, the mortgage crisis may be far from over. The overhang of homes heading toward liquidation suggests more delinquencies and lower home prices are to come.”
∙ The Shadow Inventory Of Troubled Mortgages Could Undo U.S. Housing Price Gains [S&P]
∙ November Case-Shiller Index: Up For Bottom Tiers But Flat At The Top [SocketSite]