Home Prices Decline in Almost Three-Fourths of U.S. Metropolitan Areas (loan, percentage)
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"Real estate values are dropping as foreclosures undermine prices. Almost a third of homes sold in June were distressed properties, meaning foreclosures or short sales, in which a bank agrees to a sale for less than the loan balance.
It really depends on market more and more as more and more the declines are concentrated in the same areas as riisng prices and over building in the past. But forecloseures are down as well as sales up and alot depends on where your looking.Getting back to 65% of homeownership will take time. At the same time rents are rising ;so that is where most of the building is happening.The lack of housig starts will mean evetaul building as that is the way the markets work.it just takes time to get the market to that position. Its never goig to be the 90-thru 2007 agin likely;as it never should have happened in the first place.
The big news in this headline is that in more than a quarter of the markets, home prices did not decline. How is that possible?
lots of places in the county have leveled off and already experienced their declines. as employment stablizes in some parts of the country, foreclosures slow down.
the main worry i have is the backlog of foreclosures. hopefully some percentage of those people can get to the point where they can make payments again and it won't be as bad as expected.
The fed is trying for all it is worth to re-inflate the housing bubble. It has loaned out $16 trillion. It may just do it and re-inflate the bubble. But watch out for the next pop.
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