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Home price drop largest on record

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posted on Nov, 27 2007 @ 04:41 PM
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Home price drop largest on record


news.yahoo.com

NEW YORK (Reuters) - Prices of existing U.S. single-family homes in the third quarter slumped 4.5 percent from a year earlier, matching a record decline from the previous period as the housing downturn deepened, according to a national home price index on Tuesday.

On the teleconference, titled "Current & Future State of U.S. Housing Market," Shiller said he is not able to predict the bottom for the U.S. housing market at this point of time.
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posted on Nov, 27 2007 @ 04:41 PM
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When is this all going to end? This Winter is looking really bleak. Is America ready for a broken Middle Class, which is the backbone of the country? There was another story on television earlier today showing the wealthy are buying up a number of these homes as the Middle Class owners lose them. That really bothers me as well. They arn't living in these homes. Theyre buying them because they are cheap and they can profit from this mess.

news.yahoo.com
(visit the link for the full news article)



 
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