In The Tank?! Housing Prices Plummet To New Low

Comments:  | Leave A Comment

housing hits new lowDespite claims of economic upturn, housing prices fell in March to their lowest point since the real estate bubble burst, new data says.

Standard & Poor’s Case-Shiller Home Price Index reports 12 of the 20 cities included in the data suffered new recession lows in March.

The desire to own your own home, long a bedrock of the American Dream, is fast becoming a casualty of the worst housing downturn since the Great Depression.

Even as the economy began to fitfully recover in the last year, the percentage of homeowners dropped sharply, to 66.4 percent, from a peak of 69.2 percent in 2004. The ownership rate is now back to the level of 1998, and some housing experts say it could decline to the level of the 1980s or even earlier.

Read more at the New York Times

RELATED:

House Votes To Kill Main Obama Foreclosure Aid

Foreclosures Exceeded 1 Million In 2010, Expected Growth In 2011

Join the Conversation! Share on Facebook!

Tags: » »

Comments

blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,574 other followers