Housing Market Now in Double Canadian Geese Formation

Standard & Poor’s/Case-Shiller home price index released its September numbers, and here's how Los Angeles fares: Home prices in the metro area are up 0.8 percent from August but down 9 percent from a year earlier. At least one analyst tells the Wall Street Journal that "evidence of a bottom is clear," but over at the New York Times things get a bit gloomier. The paper interviews Maureen Maitland, vice president for index services at S.& P., and here's her take: "Ms. Maitland speculated that the housing market might follow a “W” pattern, as the price lows plumbed last spring are tested again this winter. 'There is going to be more moderation and downturn in the coming months,' she said." Via Tim Noonan
· A Look at Case-Shiller, by Metro Area (November Update) [WSJ]
· Home Prices May Be Nearing a New Dip [NY Times]