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Why Some Housing Markets Do Better Than Others: Edward Glaeser

March 13 (Bloomberg) -- As of December 2011, the S&P Case-Shiller housing price index had declined in 18 of the past 19 months. In constant dollars, its 10-city index is about the same as it was in 1989, which suggests two lost decades.

Yet the national housing blahs obscure the fact that some markets, such as New York and Washington, have seen prices rise substantially since 2000, while others, such as Detroit and Las Vegas, have experienced dramatic price declines.