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America's house prices are falling even faster than during the Great Depression

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posted on Jun, 3 2008 @ 12:15 AM
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www.economist.com...


AS HOUSE prices in America continue their rapid descent, market-watchers are having to cast back ever further for gloomy comparisons. The latest S&P/Case-Shiller national house-price index, published this week, showed a slump of 14.1% in the year to the first quarter, the worst since the index began 20 years ago. Now Robert Shiller, an economist at Yale University and co-inventor of the index, has compiled a version that stretches back over a century. This shows that the latest fall in nominal prices is already much bigger than the 10.5% drop in 1932, the worst point of the Depression.





These are this issues we need to be hearing about. What will our future president do to get us out of this mess? I don't care about health records, preachers or lapel pins. I care about how horrible our economy is.

How do they plan on stopping the plummeting dollar and house prices? I don't think either of them have put forth anything that inspires the least bit of confidence so far.




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