S&P vs. The Facts
The median price paid for a Southland home was $385,000 last month, the lowest since $380,000 in April 2004. Last month's median was down 5.6 percent from February's $408,000, and down a record 23.8 percent from $505,000 in February 2007. That peak median of $505,000 was reached several times last spring and summer.
S&P's assumptions for SPF:
"Assuming stable pricing in its major markets, we foresee the company's gross margin at 8.8% in 2008, compared to a negative 7% in 2007."
How can S&P assume stable prices in its analysis when prices are falling at a record pace just since the beginning of the year?
Why is S&P INTENTIONALLY trying to mislead investors???????