SF home prices worst since boom

Prices for homes in the tri-county area hit their lowest level since the
real estate bust, according to the Standard
& Poor’s/Case Shiller Index, which was released yesterday.
Prices for the tri-county area fell 6 percent from the previous year,
and 51 percent from their December 2006 peak. “It’s not good news,” said
Maureen Maitland, vice president for S&P Indices. “It’s basically
confirming what a lot of people were worried about last year and that is
that the tax incentive was a temporary stimulus.” [Palm
Beach Post]