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Prices Continue Descent, But There's Still Construction

Nevermind the endless march of housing numbers, the latest saying that housing prices were down last month by 30 or so percent (compared to numbers last week that said 40). One California firm points to the rise in sales of single-family homes as proof that the state's $10,000 tax credit for first-time homebuyers is working. Others think a state with moths streaming out of its hole-ridden pockets should hardly be extending such credits, encouraging "new construction in a market where foreclosures are still rising and prices continue to fall." Says one dissenter: "It's so stupid it's amazing to me." [SF Gate]