The downward spiral of house prices is said to be worse than it ever was. Yes, it's officially worse than at the time of the Great Depression. Researchers at the capital's economy tank have come up with this surprising news. This thoughtful piece of information is just as devastating news that house prices dipped again in March Case-Shiller - and only seems to be worsening.
Paul Dales, economist at Capital Economics, said that, according to Case-Shiller measure, house prices have peaked well below the 2006 mark of 33% and has reached new heights last seen by the nation in 2002. The house prices are now at 31%, which is the reduction of previous housing market endured the Great Depression.
So you can see these statistics and ask what recovery?
This indicates that Wall Street is getting a great show. Wall Street is in the middle of the simulation and drama and there is insufficient evidence that the national financial crisis is not improving. In fact, it is only getting worse!
The Dow Jones, however, is high as a kite and will not believe a word to say about the financial crisis. The Dow Jones industrial average is at 0.079%, which means it is above average at 12,000. I wonder what Wall Street is smoking?
Capital economy not to waste time telling the truth as it is. They believe that immersion in the house twice the price is nothing new. This pattern is similar to what people experienced in 30 years. At this point a brief recovery as outlined today. The world is also experiencing similar problems in the housing market. The panel said that house prices are falling back, and before you know it, you hit bottom. This is bound to take place next year.
The double dip in house prices has left nearly 30% of homeowners with negative equity. This can lead to the use of federal Quantitative Easing III. The feds are required to give a more respectable name, if only to save face. In Case-Shiller some way can be a bit out of place, where the collapse of housing prices is even more profound. Official data released does not take into account inflation. At the time of the Depression was deflation, which means that every dollar of his house was worth more valuable. Today inflation is moderate. The country probably needs more inflation and whether Ben Bernanke, the Fed chairman, has its own way, is likely to be in the near future.
Case-Shiller report also referred to hide the real estate market changes. House prices have collapsed in several suburbs, exurbs and rural areas. Las Vegas, Miami and Phoenix have also been severely affected. In Boston and Manhattan, the decline has been smoother. Some high-end properties in these areas are said to be selling well. It seems that buyers have money in their pockets.
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