The index is now down 30.9% from the peak, and down .5% month over month. 8 cities have now reached new post bubble lows.
As a reminder, these new lows come with the government financing or guaranteeing close to 100% of the new mortgages issued, and the Federal Reserve has already purchased $1.3 trillion in mortgage debt.
We will soon find a bottom in the real estate market, but it will be priced in gold as the government continues to try and support bubble prices.
