Economic index shows FPSA housing market still crawling on bottom!
NEW YORK (PNN) - March 27, 2012 - Fascist Police States of Amerika (FPSA) single-family home prices were unchanged in January, suggesting the battered housing market continues to crawl along the bottom, a closely watched survey said on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas was flat in January on a seasonally adjusted basis. A Reuters poll of economists forecast a decline of 0.2% after December’s 0.5% drop.
However, on a non-seasonally adjust basis, prices in the Depression ravaged FPSA tumbled 0.8%.
On a yearly basis, prices fared a little better, with January notching a 3.8% decline compared to the year before, in line with expectations and an improvement from December’s 4.0% drop.