US Property Prices Break 4 Years of Decline
US Property prices, according to the Case-Shiller index, recorded their first rise in almost 4 years.
The rise, of 0.6%, was below the forecast of 0.9% and sits against a 3.2% GDP increase in the first quarter of 2010.
Equally, the spring is a typical time for price rises.
For these various reasons, foreacasters remain cautious about any further increases explaining that there is a still a significant phase of re-adjustment to work through before steady price rises begin. Not least the fact that various mid sized US cities are staring at bankruptcy.
US consumer inflation – not adjusted for seasons – is running at 2.3%.