How Deep is the Housing Depression

For a gloomy analysis of the housing market this IBD editorial will not make you happy. 

The collapse of residential real estate prices just officially exceeded the scale of the Great Depression’s housing crisis. Using mortgages as a welfare program turned out to be long-lasting poison. 

Home prices have fallen by 33%, according to Standard & Poor’s Case-Shiller data, since the housing market began its long, hard collapse in 2006 — with a further decline expected in the months ahead.

Here in Reno the prices are down a lot more than 33%.


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