It’s Still Cheaper to Live in Detroit

Good news for those renters still clinging to the fantasy of owning a home: According to Standard & Poor's just-released and sexily named "S&P/Case-Shiller® Home Price Indices," real estate in Washington is down 4.8 percent compared to March of last year. Where these super-cheap homes around here are isn't exactly clear, since there's no breakdown of neighborhood or, well, surrounding states, but who needs accuracy with fantasies anyway?

Rooms with a view in Detroit are down a lot more—8.4 percent—but they're in Detroit, so there's that. But forget about Seattle, folks. Prices are up a whopping 10 percent there.

Also poking a hole in Open House elation: The National Association of Realtors reported two weeks ago that there was actually an increase of 1.2 percent compared to a year ago.

Guess we'll have to wait for some blogger to call us a dying city to see any meaningful plummet. There's always hope.