Case Shiller Home Price Index

Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven't been enough to boost prices, according to the S&P/Case-Shiller Index.

Home prices fell in January for a fifth straight month in most major U.S. cities, as modest sales increases have yet to boost prices. The Standard & Poor's/Case-Shiller home-price index released Tuesday showed that prices dropped in January from December in 16 of 19 cities tracked.

Becoming a homeowner is a rite of passage in America, while renting gets no respect. But when you look at how we really live, it turns out that, even ignoring the recent crash, home ownership isn't the great deal for our finances that we've been led to believe.

The National Association of Realtors reported this week that sales of existing homes rose 4.3% in January, their third rise in four months. But there are other housing trends to consider that are much more telling than a modest uptick in sales.

U.S. home prices are falling again in most major cities after posting small gains over in the summer and spring, the latest evidence that the troubled housing market won't recover any time soon. The Standard & Poor's/Case-Shiller index shows prices dropped in September from August in 17 of the 20 cities tracked.

The twin demons of the housing market crash and the Great Recession have created historic wealth gaps among racial groups in America: The median wealth of white households is 20 times that of black households, and 18 times that of Hispanic households. The main culprit in minority wealth loss? The housing bust.

Foreclosure activity picked up by 4% in June, and economic problems which include high unemployment and falling homes prices will drive it relentlessly higher. That's bad news for homeowners, but the ripple effect from foreclosures goes beyond their immediate problems, and it will get much worse.

The long term isn't looking good for the greenback: Central bank managers don't see it keeping its status as the world's reserve currency. The short term's not looking so hot for the U.S. economy either: Housing prices are down another 4% year over year, and confidence is falling.

Some recent reports on the real estate market show home prices starting to stabilize in many areas. Other data suggests the housing market has further to fall. But whichever direction the numbers are heading, there are few tenets that smart buyers and sellers should always follow.

Home prices in 20 major U.S. cities rose a better than expected 0.6% in July compared to June, according to the S&P/Case-Shiller Home Price survey. However, year-over-year gains slowed, suggesting a slowdown in the nation's economic recovery.