Home Prices Down 18%, Recovery Improbable

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According to S&P/Case Shiller, home prices fell 18% in October compared with the same month last year.

Home prices are now back to March 2004 levels. The index for the top ten cities is now down 25% from its mid-2006 peak. The twenty city index is down 23.4% for the same period.

Prices In Phoenix were off 32.7%. In Las Vegas they have dropped 31.7%, and in San Francisco, they are down 31%

Douglas A. McIntyre