It's been a busy morning for news related to the housing market.
President Bush signed the much-anticipated housing bill this morning. Most of the bill's provisions take effect on October 1, but some of the emergency measures take effect immediately. If you just have to know all the details, or if you're looking for a cure for your insomnia, you can get the full text of the law (all 700 pages of it) through the Library of Congress website.
Standard & Poor's also released its Case/Schiller housing price report for May 2008. As largely expected, housing prices continue their slide in many areas: of the top twenty metro areas, all twenty tracked year-over-year declines, and ten of the twenty had double-digit value declines. Most of the hardest hit areas are in California, Nevada, Arizona, and Florida.
