Pursuits
Morgan Stanley Sees San Francisco Housing Double-Dip, NYC Gains
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San Francisco home prices declined in May and New York values rose even as the S&P/Case-Shiller Index showed the opposite, according to Morgan Stanley.
San Francisco prices fell 1.2 percent while New York gained 0.8 percent in May, Morgan Stanley said in a report, which looked at homes that weren’t in foreclosure or involved in a short sale, in which a buyer pays less than the amount owed on the mortgage and the bank agrees to take a loss.