The Book of Enoch
104.9 Do not be impious in your hearts, and do not lie, and do not alter the
words of truth, 

nor say that the words of the Holy and Great One are lies, and do not praise your idols. 
For all your lies, and all your impiety, lead not to righteousness but to great sin.
104.10 And now I know this mystery; that many sinners will alter and
distort the words of truth, 

and speak evil words, and lie, and concoct great fabrications, and write books in their own words.

Wednesday, September 30, 2015

Step Aside Detroit: There Is A New “Worst” City For Housing In The U.S.

Step Aside Detroit: There Is A New “Worst” City For Housing In The U.S.

September 29, 2015 in Economy, Financial Crisis, News, U.S. News by Slad
Zero Hedge | Tyler Durden | 09/29/2015 15:48 -0400 
 

Photo: YoChicago.com

While the Case-Shiller index reported earlier was weaker than had been expected, and the 20 City composite index posted its third monthly decline in a row, the headline hid a wide dispersion of home prices beneath the surface.


Perhaps just to underscore this point, Case-Shiller also provided a handy chart showing the best and worst cities for home prices in the US.


It will come as no surprise that the west, with San Diego, is where the gains are still frothiest: after all the Chinese “hot money” exporters are rushing to park their funds before the exit door slams shut, and are doing so as close to home as possible.


What was surprising is the other end of the spectrum, because as Case-Shiller clearly shows, Detroit – after staging a brief dead cat bounce in the aftermath of its bankruptcy and since sliding once again – may no longer be the worst city for home prices in the US. It has now been displaced by a city which many speculate will be nothing short of the “next Detroit.”

The silver lining: while Chicago home prices have been sliding for the past 4 months, they are still up compared to last year… if only for the time being.
 
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