A blog dedicated to tracking the continuing decline of housing markets throughout the USA. It is a long slow decline. But, decline it will. The speculative episode was simply unsustainable. With special attention to the Washington, DC area. Please join in the discussion.
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Case Shiller Index Way Down; Washington, DC Area Down 15.4%
Posted on July 29, 2008
Price continue to fall in the the bubble markets across the United States. The growing number of foreclosures, tighter lending standards, large inventory, weak home sales and rising mortgage rates are pushing prices down.The Washington, DC area continued to experience price declines. According to the Case Shiller Index the the yearly price change was -15.4% between May 2008 vs. May 2007. The monthly price decline was 1% for May....
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