| From Bloomberg: Moody’s Corp. assumed U.S. home prices would rise 4 percent annually when it developed a model in 2003 to rate mortgage-backed securities, according to the Financial Crisis Inquiry Commission.
Prices instead plunged 28.5 percent from July 2006 through the low reached in February last year, according to the Chicago- based National Association of Realtors, a decline Moody’s failed to foresee, the commission concludes in a 545-page book due to go on sale tomorrow. A copy was obtained by Bloomberg News..............................................Full Article: Source
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