With the Stock market recovering anywhere from 50% to 75% of its 2008 losses, depending on what index you are looking at, and analysts declaring a bottom is in for equities and the worst of the subprime fallout has hit, one may expect some number to back those statements up.
Unfortunately none were forthcoming on the eve of the Fed’s announcement on interest rates. Tuesday the S&P Case-Shiller Home Price Index for February showed continued weakness in the housing sector.
“There is no sign of a bottom in the numbers,” said David M. Blitzer, Chairman of the Index Committee in a release. “Prices of single family homes continue to drop across the nation,” Blitzer added.
