US Housing Depression Deepens

Case shiller variation annuelle

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www.investors.com

The collapse of residential real estate prices just officially exceeded the scale of the Great Depression’s housing crisis. Using mortgages as a welfare program turned out to be long-lasting poison.

Home prices have fallen by 33%, according to Standard & Poor’s Case-Shiller data, since the housing market began its long, hard collapse in 2006 — with a further decline expected in the months ahead.

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