Probably the most grating aspect of the recent history of home prices around the country (at least, to me) is that, due in large part to the rise in government bailouts and federal deficit spending, the greater Washington D.C. area has been the best housing market for some time now, holding on to its housing bubble gains better than any other region as shown below in the latest data for the S&P Case-Shiller Home Price Indexes.
And the home price gains near the nation’s capital just keep on coming, the September data showing an increase of 0.2 per cent while every other region (except basket case Las Vegas) showed price declines. As is clear to see above, the change in fortune for Washington area home prices began when the bailouts/stimulus began in earnest (i.e., late-2008/early-2009) and, in recent months, the home price index is further separating itself from all others.
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