The Coming Depression: Housing May Drop Another 25%?
Aug 26, 2010
The Coming Depression: Housing May Drop Another 25%?.
With all the talk of the awful sales numbers for both existing and new homes in July, there was one small kernel of seeming good news: existing home prices rose slightly. The national median home price actually increased by 0.7% last month compared to a year earlier, according to the National Association of Realtors. But don’t expect this trend to continue — prices still have a ways to fall before they settle at their natural level.Several weeks ago, Barry Ritholtz posted the following chart. It was originally featured by the New York Times, and updated by a commenter to Ritholtz’s blog named Steve Barry.
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