Housing Crash Is Getting Worse: Report

Commentary: But all this bearish news makes me bullish

If you thought the housing crisis was bad, think again.

It’s worse. 

New data just out from Zillow, the real-estate information company, show house prices are falling at their fastest rate since the Lehman collapse.

Average home prices are down 8% from a year ago, 3% over the quarter, and are falling at about 1% every month, according to Zillow.

And the percentage of homeowners in negative-equity positions — with a home worth less than its mortgage — has rocketed to 28%, a new crisis high.

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Categories: Economics

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