U.S. House Prices start to Double Dip

A surprise sharp decline in house prices in the United States has analysts calling the start of the double dip for the already depressed U.S. housing market. The S&P/Case Shiller home price index for a composite of 20 U.S. cites plunged 1.3 percent in the month of October, the biggest monthly decline since March 2009. Six cities recorded new all time lows.

David Blitzer chairman of the index committee at Standards and Poor’s said “There is no good news in October’s report. Home prices across the country continue to fall.” and “The double dip is almost here, as six cities set new lows for the period since the 2006 peaks,”

» U.S. house prices tumble in October – Market Watch, 28th December 2010.

1 Comment

  1. Housing prices for many years have been unnaturally propped up the government and its time for them to shrink bank to affordable levels. Houses should be places to live in, not invest in. By putting so much value into housing, the economy as a whole suffers because all that money, time and resources that’s spent on markedly overpriced houses could have been used on other things instead – like starting new businesses or supporting producers. The more diversified our investments and industries our economy is based on, that

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