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US: Home market’s misery may be ‘buy’ sign

Posted on 13 December 2010

From Businessweek.com: A pall has settled over the U.S. housing market. The first-time home buyer’s credit has dried up, and home prices are down 29 percent from their 2006 peak. On Dec. 9 the latest release of the Federal Reserve’s Flow of Funds data shows the value of homeowner equity in the third quarter of this year at $6.4 trillion—52 percent lower than four years ago.
Judging by the learned consensus at holiday parties—where homeowners swap sorry tales of underwater mortgages and bleak sales—don’t count on things getting better in months to come ………………………………………Full Article: Source


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