Home Prices Fall...AGAIN!

The light at the end of the tunnel is further than you think. April marked the 17th month in a row that home prices have dropped:

"The April sales figures show that 14 of 20 cities reported prices had dropped or remained flat compared to 2006, S&P said. 'No region is immune to the weakening price returns,' MacroMarkets Chief Economist Robert Shiller said in a statement."

Does this mean that there is a national housing bubble? I remember Michael Youngblood discussing the possibility of a national housing bubble:

"It's overblown because there is no national housing market, so there can't be a national house-price bubble."

That's an interesting point. The article also stated that Michael works at Friedman Billings Ramsey & Co. as the managing director of asset-backed securities research. That company has lost 44 percent of it's value since the date of the article.

We report, you decide.