Tuesday, May 27, 2008
14.4% drop in a year – and accelerating! (in the US I’m afraid to say)
Home prices in 20 U.S. metropolitan areas fell in March by the most in at least seven years, pointing to continued weakness in the housing market that will further drag on the economy. The S&P/Case-Shiller home-price index dropped 14.4 percent from a year earlier, more than forecast and the most since the figures were first published in 2001. The gauge has fallen every month since January 2007.