Home Prices Off 21%
It still amazes me that people argued that home prices could not go down because they had not gone down since the Depression.
Such specious thinking was far more widespread in financial circles than one would have thought.
Anyways, we're closer to the end of this decline than the beginning.
The 10-city index is now 23.4% off its peak price, which came in June
2006; the 20-city index is down 21.8% from its July 2006 high and the
national index has fallen 21% since the third quarter of 2006.
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