All if it bad news.
DC did the best, down 1.4%, but everyone else was losing 3-6% on house value. Overall, double dip and continued deflation. San Diego is down 5.32%, which bodes very bad for a city government already strapped for cash. Same problem for San Francisco, which was left in bad shape by Mayor Gavin Newsome. Las Vegas down 6%, whipsawed by California. Phoenix AZ, down a whopping 9.27%.
Some evidence confirming my theory, when Kevin Drum wants stimulus from DC, Yglesias pays slightly higher rent and Kevin's house goes way down in value. The Pacific economy is 180 degrees out of phase with the Midatlantic.
Also this puts a lie to Yglesias/Delong's theory of a housing shortage.
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