New value studies are out for homes across the country and it shows that the median prices in 19 of 20 of the largest metro areas is down from .2 percent to 2 percent. The 2 percent is from the Seattle which is down 6 percent over the last year.
Home prices across the country are now approximately where they were in 2003. We have lost 8 years and trillions of dollars all across the planet because some banks and rating agencies needed bigger bonuses for there fat cat top executives. It should interest you to know that most of these same executives are still with their companies, doing the same jobs and just starting to do the same crap that caused the financial crisis in the first place.
I saw a report on 60 minutes on CNBC last week that partially explained why some of the worst offenders of the crash are not facing any charges. They were let go by their firms, if only to save face, and once they were unemployed, they were hired back by our government to help sort out the mess they made. Yes sir, our tax dollars hard at work again.
Some so called experts are finally starting to say that the housing market is in for a double dip and will go even lower before it levels out or stops.
I don't know about all of you , but my home value is so far under water that I could not even sell my home in a short sale. Welcome to the new poverty class in America, homeowners that owe way more than their home is worth and are stuck.
