Property values in the 20 biggest U.S. cities fell an average of 18.5 percent in the year ended November 2008, bringing house prices down almost 30 percent and back to late-2003 levels. "This doesn't sound like good news, but it is," writes Henry Blodgett on the Business Insider. "Before house price declines can start decelerating, they have to stop accelerating, and it seems we're finally there." New York City prices declined 9.5 percent in the same one-year period, so either we're lagging and have further left to fall than other cities or we're not going to suffer as much. Or some in between.
Rate Of House Price Collapse Finally Peaking [Business Insider via Curbed]
U.S. Housing Prices Down 18.5%, NYC Almost 10%
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