The Standard & Poor’s/Case-Shiller U.S. National Home Price Index just released, tumbled a record 16.6% during the quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004.
The 20-city index fell by 17.4% in September compared with a year ago, the largest drop since its inception in 2000.
Lawrence J. White, professor of economics at New York University’s Stern School of Business said: “House price declines have been at the root of the financial crisis and it appears, as of September, that this decline continued unabated. Until we have some kind of stabilization in the house price sector, we will continue to see problems in the financial sector. House prices will probably drop another 10 percent, but I am hopeful that a bottom will be reached in the late spring of 2009.”
Connecticut Home Prices Plunge « Inn @ Kent Falls Blog – Connecticut Home Prices Plunge. Jump to Comments. Conn. Home Sales Plunge 17 Percent In October. Single-Family Home, Condo Median Prices Down By More Than 10 Percent. BOSTON, Dec. 4, 2008 Single-Family Home, Condo Median Prices Down By …
Home prices plunge 17.4% in the past year, Case-Shiller says … – The plunge in U.S. home values continues. Home prices in the United States in 20 cities declined at the fastest pace ever, as foreclosures increased and banks sought to unload homes by selling at cut-rate prices. …
TheStar.com | Business | U.S. home prices plunge to new record – NEW YORK–Prices of U.S. single-family homes in September plunged a record 17.4 per cent from a year earlier, according to the Standard & Poor’s/Case-Shiller Home Price Indices issued on Tuesday. The composite index of 20 metropolitan …
U.S. home prices plunge record 17.4% – Prices of US single-family homes in September plunged a record 17.4% from a year earlier, according.
Compare the value of Real Estate in Palo Alto to the DotCom stocks … Real Estate will start ticking back up in the next year or 2 … Anyone think Priceline.com will ever be worth a tenth of its former high?
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I think that in the long run, everything will probably be okay. The government will save us.
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Everyone likes to talk about the foreclosures as if it’s a bad thing when the reality is that it’s an incredibly good thing. All the bad loans inflated the market well beyond what it should have been. As these people default on their bad loans the price of housing corrects, as it should, and maybe the rest of us get to buy. This story is good news and it should be reported as such. Or, would we all be better off if the government steps in and inflates pricing again.
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Buying a home is a long term deal. I bought 10 years ago, value has doubled (a couple of years ago I could say tripled), and in 5 years house will be paid off. No more mortgage! Try that with a rental! Yeah… commute sucks.
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