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In the fourth quarter we saw home prices continuing to decline thereby compounding two of the biggest threats facing the nation's economy: faltering consumer spending and tight credit markets. The S&P/Case-Shiller national home-price index for the fourth quarter fell 8.9% from a year earlier, the largest drop in its 20 years of data. And the Office of Federal Housing Enterprise Oversight's index -- which tracks only homes purchased with mortgages guaranteed by home-loan giants Fannie Mae or Freddie Mac -- was down 0.3%, the first year-to-year decline in the measure's 16 years. When home values decline, owners feel less wealthy and … (4 comments)
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