Consumer confidence up, home prices down
... and the stock market rallied.
Are Americans coming to terms with the decline in home values. What other reason might there be for consumer confidence to soar from 40.8 in April to 54.9 in May other than the stock market has climbed better than 33% from the low of 676.53 on March 9 to yesterday's close at 910.33 although it is still down over 33% in the past year.
Justin Lahart writing for the WSJ has more.
And I'll have more on Case-Shiller and Zillow home values either later today or tomorrow.
