Home Prices Drop, Again. Predict Further Declines.
Foreclosures UP. Unemployment UP. U.S. home prices DOWN.
Home prices in the United States dropped another 6.8 percent in April from the same period only one year earlier. The housing crash has now erased 26 percent of the equity in the median priced home, since the peak in July 2006. The silver lining for renters is that home affordability is at near record levels.
Economists predict that the market will continue to see more home price declines, despite $8000 tax incentives and $275 billon in funding to keep some owner’s in their homes.
Analysts at Deutsche Bank said US home prices may fall another 14 percent before they stabilize. Like sentiment was expressed by Robert Shiller, who co-founded the respected S&P Case-Shiller Home Price Index. Many predict the worse declines could be even worse in New York and Orange County, CA.
Thank you for visiting InfoTube.net homes for sale and rent website. Place a FREE property listing on InfoTube.net or Search our database for thousands of bargains seen no where else.
Market your home to millions of home buyers each month with an MLS and Realtor.com listing. The price is only $399. Why pay 6 Percent??
Tags: house prices, housing news, Local Neighborhood News and Trends