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House Prices Down Yet Again In The Us

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Standard & Poor’s reports that the Case-Shiller 20-City Home Price Index fell 3.1% from year ago levels, down 1.0% in January for the second month in a row as shown below. The 10-City index exhibited similar weakness with back-to-back monthly declines of 0.9%, down 2.0% from a year ago.


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But seemingly no where else.

Your region may be immune as you say prices are rising--could be that Wales is different due to higher employment, higher wages and easier credit. But for the rest of the UK prices are dropping. Even the LR say so now and they were th last bastion of bullishness (due, in part, to the lag).

Cant remember now, but didn't the most recent LR report show Wales as still rising and no evidence of any price falls?

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And now lower property values are beginning to impact property tax revenues:

Property- tax revenue dropped in the last three months of 2010 at the fastest pace since home prices slipped from their peak more than four years ago, the Census Bureau said yesterday. The decline may continue as values fall further, adding strains to cash- strapped localities that already fired workers, halted projects and cut spending because of the recession that began in 2007.

The US HPC still has a long way to go, IMO :)

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  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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