My Financial Healthcheck

Home prices hit another new low in the first quarter, down 5.1% from a year ago to levels not reached since 2002.

It was the third straight quarterly drop for the S&P/Case-Shiller national home price index, which was released Tuesday.
Prices are now down 32.7% from their peak set five years ago.

Of the 20 cities, only Washington has posted a home-price gain: 4.3% over the past 12 months. No surprise since that’s the only place jobs are being created, only problem they are all Government jobs.

Housing starts fell 12.8% to a seasonally adjusted annual rate of 458,000, down 12.8% from a revised 525,000 in March, according to the Commerce Department. The reading is the lowest level since the government began keeping records in 1959. The second lowest reading came in January, when the rate of housing starts was 488,000.  All this despite almost record low mortgage rates.