October home prices and sales data hit the newspapers this morning, and it's good news as far as I'm concerned.
Prices were down for the fifth consecutive month. That's good!
The median home price in San Diego County is $323,500, the lowest since 2001. That's good!
Prices are being driven down by foreclosures and short sales.
Almost 3,600 homes sold in San Diego County, up over September and higher than the past two Octobers. That's good!
Foreclosures and short sales made up half of those sales.
Almost 39% of homes available for purchase are affordable to San Diego households earning the median income. That's good!
That number is up from 27% last month and a mere 7% a couple of years ago. That's good!
Blame it on Bush. No, wait. Blame it on Obama. No, wait. Oh, I'm so confused. Is that good?
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