benchmark
Backward-looking home value index, used here as a seasonally adjusted three-month-average mid-tier series for single-family homes, condos and co-ops.
No evidence-backed relationships are recorded.
Mid-tier condo prices are down 15% to 33% from peak in 33 bigger US markets, and in six the index is back under 2006. That is a collateral question, not a housing headline.
Reality
Mid-tier single-family prices are down 11% to 26% from peak in 15 large markets, while AI money pulled San Francisco off the list. Collateral marks have to be local now.
Reality
Wolf Street's July update shows Austin, Las Vegas and Nashville leading year-over-year declines while AI money bids up San Francisco's middle third. Regional exposure is now the whole trade.
Reality