Home Prices Fall Record Amount in October
December 30th, 2008 | 
Author: Home Prices Continue Slide Down
NEW YORK — A closely watched index shows home prices dropped by the sharpest annual rate on record in October.
The Standard & Poor’s/Case-Shiller 20-city housing index released Tuesday fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history.
Both indices have recorded year-over-year declines for 22 straight months. Prices are at levels not seen since March 2004.
Posted in Economy, Housing Crisis, Middle Class, Mortgage Meltdown | 
Tags: Economy, home foreclosure, home prices, Housing Crisis, Middle Class