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November 29, 2011

Home Prices Down. Is Owning A Home Smart?

November 29, 2011

Home Prices Down. Is Owning A Home Smart?

Case Shiller’s September report showed home prices across 20 major U.S. metro areas were down 0.6% since August, breaking a (rather weak) five-month ’20-City’ gain streak. Prices are down 3.6% since September 2010, and home prices are still down drastically from 2006 highs and now at 2003 levels (CHARTS BELOW). I detailed what this means for consumers last month, and that piece is still relevant for homeowners and buyers trying to make decisions.


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Reference:
Owning A Home Isn’t Necessarily Smart (part 2)
Case Shiller September Home Price Report
Case Shiller 20 “Cities” Aren’t Cities, They’re Whole Regions
FHFA September Home Price Report*

*This report was also released today, but it’s not as widely followed because it’s only for homes with Fannie/Freddie loans.