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Home prices, consumer confidence fall
By Jeff Harrington
St. Petersburg Times
Published: Jun 29, 2011

The Tampa Bay area got a double dose of downbeat economic news Tuesday.

Home prices in the region slipped another 0.4 percent in April, according to the latest snapshot from S&P/Case-Shiller. Meanwhile, Florida consumer confidence fell for the fourth time in five months in June, according to a University of Florida poll.

The bay area was one of just seven regions in the 20-city Case-Shiller index to post a monthly drop in home prices. Overall, both the 10-city and 20-city composites were both up less than 1 percent, the first increase in eight months. Nineteen of 20 cities in the index posted annual declines in April, with only Washington, D.C., notching an increase.

The drop in consumer confidence statewide to a relatively low level of 66, meanwhile, was likely due to concern over our short-term economic health, said survey director Chris McCarty of UF's Bureau of Economic and Business Research.

"As the deadline to adjust the debt ceiling approaches, some Floridians, particularly seniors, may be anticipating cuts to Social Security and Medicare, which will likely have to be part of any long-term deficit reduction solution," McCarty said. "Others may have concerns about raising the debt ceiling."

Jeff Harrington, Times staff writer



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