home price declines: Record drop in home prices is good news.
- 03/31/09 07:23 AM
Home prices sank by the sharpest annual rate on record in January, and the pace continues to accelerate. While for property owners this may be bad news, it is good news for the economy. The real estate market will not recover until prices bottom out. There is little reason to invest in real estate if your convinced prices will just keep falling. What interest rate could possibly make sense if you believe the home will be worth $50,000 less in a year? The economy will have difficulty recovery with the real estate market adrift. Too many industries tie to real estate … (2 comments)
Home prices sank by the sharpest annual rate on record in January, and the pace continues to accelerate. While for property owners this may be bad news, it is good news for the economy.;)
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