PASADENA HOME VALUES DROPPED 23.5% SINCE PEAK

This blog posted an article earlier today from the Dr. Housing Bubble blog that reported a 50% decline in home values in Pasadena.  Upon further review it was found that the analysis was flawed and misleading.  Thus, the post has been removed.

A check with Zillow.com shows that Pasadena home prices declined from about $664,000 per median priced home in 2007 to $508,000 in May 2011, for a 23.5% decline.  Link:

http://www.zillow.com/local-info/CA-Pasadena-home-value/r_47019/#{scid=mor-site-topnavlocalsub}