KEVIN JONES Real Estate & Loans
Kevin Jones 818-955-SOLD (7653) 

CAR Real Estate Update

These are the latest numbers from CAR (California Association of Realtors) it is everything I have already said has happened or is about to happen. The number are amazing and I predict it will only get worse before it gets any better!  My other prediction is 2012 will be the new 1997 when the market leveled off and began the upward trend of the cycle.

For any questions about Real Estate or Loans call KEVIN JONES!  818-955-7653

U.S. economy: Consumer Confidence & House Prices Slide

Consumer confidence plunged to a 16-year low in June and home prices fell in April for the twenty-first consecutive
month as measured by the Standard & Poor’s/Case-Shiller Home Price Index for 20 cities. Separately, Federal
Reserve Chairman Ben Bernanke said Tuesday that recent economic data suggest the U.S. is on the brink of a
recession.

KEEP THIS IN MIND…
• The Conference Board reported that its confidence index fell from 57.2 in May to 50.4 in June thanks to the
housing downturn, higher unemployment and the rising cost of food and fuel. The last time the index was this
low was in February 1992, when the economy was beginning to recover from the 1990-91 economic downturn.
• The S&P/Case-Shiller index fell by 15.3 percent in April from the previous April, continuing March’s 14.4 percent
year-over-year decline. However, eight of the 20 cities included in the index experienced month-over-month
increases in prices. That shows cities “are beginning to sort themselves into the bad and not-so-bad,” said
economics professor and index co-founder Karl Case. “It’s not like the whole market is collapsing.”
• California cities included in the index continued to experience price declines: In Los Angeles, the index fell 2.2
percent from March to April and 32.1 percent year over year. San Diego was down 2.6 percent for the month
and 22.4 percent compared with April 2007, and San Francisco declined 2.2 percent in April and was 22.1
percent below last April’s index.
To read the full story, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aX6aDvhPpltY&refer=home