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Prices Up a Bit, Compared to the Bottom Anyway

"Flat is the new normal, to borrow a phrase people have used recently. If we could come out of this (housing collapse) and have housing be quite flat for the next four or five years, that would be a reasonable outcome." So says the chief guy on the Case-Shiller Home Price Index, which indicates that the Bay Area's ticked up by 16.2 percent in the first quarter of the year, compared to the same time period last year. Still, to some extent, for cities like SF, Los Angeles, and San Diego, "this is a rebound from the bottom." [SFGate]