House Prices In New York City Are Not Going In The Right Direction, And It's Because Of Wall Street Bonuses

The Case-Shiller house price index came out today, and the numbers were basically in line with expectations. House prices for November were 5.52 per cent above last year’s levels.

We’ve gotten so used to rising home prices that news that would have been remarkable several months ago is now treated as ho-hum.

Former bust cities like Phoenix and Las Vegas and Detroit are among the hottest housing markets.

But while housing rebounds nationally, New York is not looking so hot according to the latest Case-Shiller home price report.

On Bloomberg TV, Karl Case blamed weak Wall Street bonuses for the slackness.

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Photo: Case-Shiller

SEE ALSO: Optimists Are Ignoring Two Key Things About The US Housing Recovery >

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