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US real prices fall to 1999 levels, declines surpass Great D

 
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PostPosted: Tue May 31, 2011 5:18 pm GMT    Post subject: US real prices fall to 1999 levels, declines surpass Great D Reply with quote

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Description: US real prices fall to 1999 levels, declines surpass Great Depression
URL: http://www.forbes.com/feeds/ap/2011/05/31/general-financials-us-home-prices_8492 ...truncated...
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PostPosted: Wed Jun 01, 2011 2:43 pm GMT    Post subject: Reply with quote

This is simply wrong. They did not have housing price increased 200-250% few years before the Great Depression to begin with, not to mention we have inflation now. Our dollar is getting weaker everyday.

It's still quite expensive. The monthly payment is more reasonable now, but that's because the interest rate is artificially low.
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PostPosted: Wed Jun 01, 2011 4:27 pm GMT    Post subject: Reply with quote

CC wrote:
This is simply wrong. They did not have housing price increased 200-250% few years before the Great Depression to begin with...


Yes, good point, but that doesn't make their statement wrong, just incomplete. I think it's still a useful comparison, even though greater declines would have justification this time, as you point out.

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