by Wolf Richter, Wolf Street:

This takes some doing: San Francisco Bay Area house prices plunged faster from the peak than they’d spiked to the peak.

Housing Bubble 2 continues to deflate relentlessly, no matter what data set we’re looking at. Today we got the S&P CoreLogic Case-Shiller Home Price Index for “November,” which is a three-month moving average of home sales that were entered into public records in September, October, and November, reflecting deals made largely in August through October.