Here’s the article.
http://www.latimes.com/business/la-fi-nar12apr12,1,7836634.story?coll=la-mininav-business
Ho hum. There is no nationwide market for real estate, just a bunch of local markets. And many local markets have had price drops in the past. What really matters is how your local market, or other markets in which you invest, are performing.
Not a good sign nationally.
Doesn’t bode well for the economy as a whole.
You are so right. All real estate is local. People make money in every morket, but not using the same strategies.