As Case-Shiller Craters Again, Should New York Care?

After improving in the first half of last year, the Case-Shiller Home Price Index began to plummet in the middle of 2011, and it has reached a new low with the release of the November numbers yesterday. Does this have any bearing on New York, considering the Case-Shiller only tracks single-family homes? In short, yes. “Obviously, housing weighs on the larger economy, so that has an impact on us,” said Harold Shultz, an analyst at the Citizens Housing and Planning Council, which closely follows the Case-Shiller from a city perspective.