Tuesday, October 28, 2008

What's Your House Worth?

Sorry, I can't answer that.

But there IS a measure, once-removed, provided by Case-Shiller. It's not perfect. And I call it "once-removed" because the closest measured Midwestern city is Chicago.

And in Chicago, August 07/August 08 prices are down 9.8%. (Highest value-to-current value is off by 11.3%).

Minneapolis, also close by, is even worse: August o7/August 08 is down 13.5%, with peak-to-current down by 17.1%.

Overall USA: down 16.6% August 07/August 08.

HT: Ritholtz


3rd Way said...

Our real estate market isn't all that similar to either Minneapolis or Chicago. Prices in both of those metropolitan areas ballooned during the housing boom.

Our area didn't see nearly the same price increase that they did... thankfully. Our area shouldn't experience the same decrease... hopfully.

Anonymous said...

With that new MPS tax increase I sense a general decline in certain areas of Milwaukee metro. Those areas within MPS specifically.