US home prices drop at sharpest rate in 20 years

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contrarian (anonymous) says...

NEW YORK - A closely watched housing index shows U.S. home prices dropped at the sharpest rate in two decades during the first quarter.
The Standard & Poor's/Case-Shiller said Tuesday its U.S. National Home Price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988.
Its narrower indices also set record declines. The 20-city index tumbled 14.4 percent during the quarter, the lowest since that index was started in 2001. The 10-city index plunged 15.3 percent, a record in its 20-year history.
"There are very few silver linings that one can see in the data. Most of the nation appears to remain on a downward path," said David Blitzer, chairman of S&P's index committee.

May 27, 2008 at 7:16 a.m. ( | suggest removal )

424now (anonymous) says...

Good thing we are in the tourism business.

June 13, 2008 at 4:33 p.m. ( | suggest removal )

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