Affordability up as home prices slide
(WASHINGTON) – The National Association of Home Builders reports housing affordability is up substantially as home prices decline.

(I kid. I kid because I love.)

Meanwhile, the good news:

Housing starts down, mortgage apps up
(WASHINGTON) – In what can be interpreted as “good news” for sales associates, the Mortgage Bankers Association reports mortgage applications are up and the Commerce Department reports new housing starts are down.

And the bad:

U.S. home values down $2.4 trillion
(SANTA ANA, Calif.) – A report published by
First American CoreLogic finds the total value of U.S. residences at the end of 2008 was $19.1 trillion, down $2.4 trillion from the 2007 national value of $21.5 trillion.