Power Breakfast: Metro home prices keep falling, HOPE cuts, Home Depot, Falcons, DeKalb cuts, unions, NYSE

The stabilizing housing market many experts saw a year ago seems to have been built on sand, AJC reporter Michelle Shaw writes.

New data released Tuesday showed another monthly decline in home prices, with values in metro Atlanta and 10 other markets falling to new lows since the housing bubble burst in 2006 and 2007, Shaw reports.

Metro Atlanta values were down 8 percent in December from the same month in 2009, according to the Standard & Poor’s Case-Shiller Index, Shaw writes.

The metro region is now 26.7 percent below its July 2007 index peak, Shaw reports.

“Despite improvements in the overall economy, housing continues to drift lower and weaker,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.

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- Henry Unger, The Biz Beat

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The Economy

February 23rd, 2011
7:56 am

And the idiots in Washington and on the TV keep saying that the economy is turning????? turning into what???? the Greatest Recession??? It will get much worse before it gets better(finds a true bottom without phony taxpayer support), get used to high unemployment, stagnet house values,lower incomes,higher crime, and more Government interference. Like a bunch of monkeys trying to hump a greased football.

Buzz G

February 23rd, 2011
8:21 am

For 30 years I listened to liberals whining about the lack of “affordable housing.” Well, they have finally achieved their dream and responsible people will be paying the bill for generations to come. Jimmy Carter and fans, are you happy now?

Lt Col Razor back

February 23rd, 2011
8:37 am

The Economy,

You better get used to less Government interference and also less Government help. The rumor floating around Federal Government Offices is that Congress is leaning toward NOT passing a continuing resolution (CR) that would keep Federal Government offices from providing a multitude of services to the citizens. The rumor is that all except government workers who work in jobs that protect the public will be given unpaid furloughs. That means that they go home and do not perform jobs such as issuing Social Security payments to elderly retirees, providing services to American schools and to the students who attend them, inspecting food supplies to ensure they are safe to eat, etc., etc., etc.

Many years ago, Congress changed the fiscal year from July 1st to June 30th, to October 1st to September 30th, because they couldn’t pass appropriations bills in time to provide funds before the new fiscal year started. In the vast majority of the years since the change, Congress has continued to fail to pass appropriations bills before the new fiscal year started. In other words they delayed the process by three months only to continue failing. The “stop-gap” between the end of a fiscal year and funds for a new fiscal year is called a “continuing resolution.” Congress is now contemplating NOT passing a new CR when the current CR lapses on March 4th. The result will be the almost complete shutdown of the Federal Government! Some may applaud that idea, but if it happens, just wait and see how many of those same people will be begging for the services that “the Government” provides to them!!!!

The Economy

February 23rd, 2011
9:38 am

Well, here comes the “CHANGE” everyone wanted. Anything is better than status quo, time to pick a side.

Q=control

February 23rd, 2011
1:43 pm

housing prices still going way down? I thought obama’s economists said the recession was over last year! What gives? I need a drink! No, make that several.

Agony on US

February 23rd, 2011
3:50 pm

Another sad factor to consider is that Obama’s approval ratings have recently gone up, ever so slightly. He will have the cojones to run for re-election, and there are actually still people out their that will blindly give him that opportunity (since 4 years won’t be enough!) The people in the most trouble will blindly give him his job back.

So I predict another 6 years of misery. Plus, add to that how many more years it takes to clean up the destruction.

TnGelding

February 24th, 2011
5:30 am

Considering it was 200% overpriced in some areas, what would you expect? And the builders keep on building.

TnGelding

February 24th, 2011
5:32 am

Recession pertains to economic growth, not housing prices.

Claudia

February 25th, 2011
8:29 am

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