The value of single-family homes plummeted 10.7 percent in January compared to a year earlier, as measured by the Case-Shiller index, a closely watched survey of 20 major metropolitan regions.Ah hah! I knew it! Yeah, sure, there are plenty of jobs in Denver that will pay you $125k+ a year -- which is just what you need to afford one of those crappy new condos that were built around the corner from me. If you consider traditional financing, that is. Maybe I'm in the wrong industry, or am just a little too financially conservative, or something.It was the steepest year-over-year decline since the index began eight years ago, and economists said the slump was probably worse than at the height of the last housing recession in the early 1990s.
Glad something's finally giving in the home prices. Now drop down to what they were about in 2000, and then I can start looking. I say 2000, because that's about the level that prices should be, if you look at many housing inflation charts.
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