Home Prices … Sharpest Rate Drop in Two Decades
U.S. home prices dropped at the sharpest rate in two decades during the first quarter, the Standard & Poor's/Case-Shiller national index showed Tuesday, a somber indication that the housing slump continues to deepen.
Prices tumbled more than 14 percent during the quarter and are at levels not seen since the third quarter of 2004. While the index is still up 60 percent from 2000, millions of homeowners who bought in the past four years with little or no money down now owe more than their homes are worth. San Diego real estate agents
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Houses will only fall 30% if everyone rushes for the exits. 5 years ago many markets were underpriced and it’s highly unlikely they’ll go back to that level. There’s still a lot of demand for housing and THERE ALWAYS WILL BE! Anyone predicting a 40% decline is making a prediction because he earns money by making predictions!
-Tom
San Diego Clinical Trials
Yes house prices might fall even more than during the great depression but maybe there are just different drivers and each depression will be driven by completely different circumstances. Maybe a recession would not be a bad thing over the long run.
Kurt
San Diego Real Estate Agent
Housing prices and sales will continue to decline. Expect 3 years before the bottom. Commerical real-estate will suffer a steep decline as well.
San Diego County Attorney