Home prices plunge record 18 percent in October: S&P

[Mrs. Sharon B. Hodge]

Home prices plunge record 18 percent in October: S&P


NEW YORK (Reuters) – Prices of U.S. single-family homes in October plunged a record 18.0 percent from a year earlier, according to the Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday that indicated a U.S. housing market in the throes of a deep recession.


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Reuters – A broken 'For Sale' sign is seen outside a home in the Queens borough of New York, November 21, 2008. … photo

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The composite index of 20 metropolitan areas fell 2.2 percent in October from September. The price drops, both on a year-over-year and month-over-month basis, came in worse than expectations based on a Reuters survey of economists.

S&P said its composite index of 10 metropolitan areas declined 2.1 percent in October from September for a 19.1 percent year-over-year drop, also a record.

"The bear market continues; home prices are back to their March, 2004 levels." David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, said in a statement.


(Reporting by Julie Haviv, Editing by Chizu Nomiyama)

[James (yaakov)]

No Surprise They inflated and NOW deflated to destroy the AmeriKan economy then they can resurrect it with a New concept which will not be new but an old concept with a new name.


Kind of like the Messianic Movement....Still holding on their Idols from Rome,... yet SAY they are 'coming out of her.'..No Just Christology with a name change...Not real in depth Judaism.


As to the housing market My Bro.in law has a home in the SF-Bay area..was worth 325,000 or so...Just in the last few weeks he was informed by his agent it was now only worth 135,000 or so...


Hmmmmmmmmmmmm...I wonder what happened???


He owned it for ten years has top credit owes nobody,... has a viable business...and now his value and all his hard work has been DE-VALUED by the Elite Commies that are running this country into the ground.....

That is what is happening ,...IMO