More statistics showing that housing prices have taken a tumble.  Los Angeles/Orange County home prices dropped 11.9 percent in the year ended in November, according to S&P/Case-Shiller indexes. That depreciation rate is the worst in the database, which dates to 1987. The only good news may be that of the 20 major U.S. markets the indexes track, five have suffered deeper one-year losses than L.A./O.C. A 20-city composite index is off 7.7 percent in the same year. S&P/Case-Shiller uses a "paired sales" index that tracks individual losses or gains on homes sold vs. tracking movements in overall medians or averages of all homes sold.

LA & Orange County placed 6th on the list as hardest hit major housing markets in the US.  As pricing pressures continue in 2008 it will be interesting to see where we will be at the end of this year.

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