Where Home Prices Dropped the Most
LA is on the list.
Five Cities With Biggest Decline in Home Values(Yahoo Real Estate) With home values continuing to plummet across the country, it's become clear that the real estate meltdown is far from over.
Values for single-family homes in 14 major U.S. cities posted double-digit declines from their respective peaks, according to the Standard & Poor's/Case-Shiller Home Price Indices, which tracks prices of single-family homes. On a national level, home values are down 12% since December 2006. And according to Beth Ann Bovino, a senior economist at Standard & Poor's, they could drop another 10% by the end of the year.
"Things are accelerating downwards [and] in most cases the fall gets steeper and steeper every month," says David Blitzer, chairman of the index committee at Standard & Poor's.
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