Home Prices Plunge With No Bounce in Sight
October wasn’t a good month for sales of single-family homes in the U.S. — in fact, it was pretty dismal — and you know it’s bad when number-crunching economist types say there’s nothing good to say about not only the current moment but the foreseeable future as well. –KA
’TIS THE REASON…
The Washington Post:
The Standard & Poor’s/Case-Shiller index, long considered a reliable gauge of the housing market’s health, reported Tuesday that prices of single-family homes dropped 1.3 percent in all 20 regions it tracks.
The housing market’s collapse crippled the economy, and a recovery in home prices is considered critical to getting the market back on track. But many economists predict that home prices will continue to fall into the new year and possibly beyond.
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