This graph of the Case-Shiller 10 City and 20 City price indexes shows that home prices are down to mid-2003 levels. The good news is that prices are flattening out at this level. The bad news is that there is no upward movement in prices. The decline in home prices over this period is reflected in $7 trillion loss of wealth. The wealth existed only on paper but households feel the loss anyway.
Tuesday, January 31, 2012
Housing Prices Are Now Where They Were In 2003
This graph of the Case-Shiller 10 City and 20 City price indexes shows that home prices are down to mid-2003 levels. The good news is that prices are flattening out at this level. The bad news is that there is no upward movement in prices. The decline in home prices over this period is reflected in $7 trillion loss of wealth. The wealth existed only on paper but households feel the loss anyway.
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