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IPFS News Link • Housing

S&P: Home prices drop by record 15.8% in May

• AP
Home prices tumbled by the steepest rate ever. The Standard & Poor's/Case-Shiller 20-city index dropped by 15.8% in May compared with a year ago, a record decline since its inception in 2000. The 10-city index plunged 16.9%, its biggest decline i

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Comment by Ed Vallejo
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When home prices were dropping at a rate of 10% a month, I told my wife we would be waiting intil it slowed down to 5% or less before we would enter the buyer's market. Since it is accelerating and currently at 15.8%, it looks like it will be a while before I have to mow a lawn..... LOL