21.10.2008 - 75% of U.S. housing correction realized; fitch projects another 10% drop before bottom
The rate of U.S. home price declines will slow in the coming months, though another 10% decline is in the cards before home prices begin to exhibit more stability, according to Fitch Ratings. To date, national home prices have declined by 22%. Fitch's peak to trough expectation is for prices to decline by 30% from the peak price achieved in 2006. The additional 8% decline represents a 10% decline from today's levels. Fitch thinks that most of this correction will be incurred in the next several quarters, with prices exhibiting more stability in 2010. .... Full Press Release: Source
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