On Wall Street, it's 2008 again. But what year is it on your street?
Even with Friday’s sell-off, major stock market indexes are up from 5% to 11% this year, lifting the Dow Jones industrial average back to where it was in the spring of 2008.
If only we could say the same for the housing market.
In 2008, the median home price in Southern California was $340,000. Home prices are still nowhere close to that level and, in fact, continue to fall.
The median annual price in 2011 was $280,000. But the median for November was $275,000, according to San Diego-based DataQuick, and by December that had dropped to $270,000. We’ll likely see January numbers next week.