15.11.2010 - US property market reaching Great Depression levels, chief economist warns
From Propertywire.com: Residential real estate values in the US have seen a near unprecedented decline with prices falling for the 17th consecutive quarter, according to new figures, Property values are now 25% below their June 2006 peak and the current real estate downturn is approaching Great Depression era declines when prices fell 25.9% in five years, says the latest Zillow Real Estate Market Report. Home values fell from the second to the third quarter in 77% of markets covered in Zillow’s report..............................................Full Article: Source
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