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U.S. home prices have fallen more than in Great Depression [View All]

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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-31-11 12:35 PM
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U.S. home prices have fallen more than in Great Depression
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U.S. home prices as measured by the Case-Shiller index have now fallen by more than they did during the Great Depression, according to Capital Economics.

Paul Dales, senior U.S. Economist at Capital, said the Case-Shiller index released earlier on Tuesday which tracks prices of single-family home in 20 major U.S. cities are now 33% below the 2006 peak and back at a level last seen in the third quarter of 2002, edging out the 31% dip seen in the Depression of the 1930s.

On that occasion, the peak in prices was not regained until 19 years after they first fell, Mr. Dales said.

The similarities between the current downturn and that seen during the Great Depression are striking, Mr. Dales said in a note. He pointed out that on both occasions, prices initially fell by 31% and, after a temporary rebound, dropped back by 7%, the dreaded double-dip.
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  -U.S. home prices have fallen more than in Great Depression Ichingcarpenter  May-31-11 12:35 PM   #0 
  - recommend  xchrom   May-31-11 12:37 PM   #1 
  - Real estate prices plummeted all during the 1920s  Warpy   May-31-11 12:39 PM   #2 
  - Very inaccurate info you have  Ichingcarpenter   May-31-11 12:59 PM   #10 
  - According to many DUers, that's still NOT low enough.  Dawgs   May-31-11 12:39 PM   #3 
  - and yet my property taxes still managed to increase. grrrrrrrrr  Vinee   May-31-11 12:42 PM   #4 
  - +1  DJ13   May-31-11 12:48 PM   #6 
  - And they will continue to fall.  closeupready   May-31-11 12:43 PM   #5 
  - They have plateaued in many areas. Why do you say this?  Shagbark Hickory   May-31-11 12:51 PM   #7 
     - Employment continues to be weak, making workers feel vulnerable.  closeupready   May-31-11 12:54 PM   #8 
        - The shift from full-time jobs to temporary positions.  Ichingcarpenter   May-31-11 01:25 PM   #12 
           - Had we gotten single payer, I'm convinced this trend would not be as strong as that.  closeupready   May-31-11 01:52 PM   #13 
  - The bigger the bubble, the bigger the "POP". nt  bemildred   May-31-11 12:55 PM   #9 
  - which = 1/3 drop in the primary wealth of most americans.  Hannah Bell   May-31-11 01:00 PM   #11 
  - Another Bankster Bailout? Sure sounds like it  Ichingcarpenter   Jun-01-11 06:03 AM   #14 

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