Reuters1.4% per month compounded is nearer 19% per year. The toboggan is speeding up. Put another way near everyone who bought since 2002 has lost money on their housing investment after expenses.
Home prices extend record slide in April: S&P
Tuesday June 24, 9:04 am ET
NEW YORK (Reuters) - U.S. home prices extended their record slide in April, with every top metropolitan area now posting annual losses and many showing double-digit declines, according to the Standard & Poor's/Case Shiller home price index report on Tuesday.
The S&P/Case Shiller composite index of 20 metro areas fell 1.4 percent in April from March and slumped by a record 15.3 percent over the year.
Tuesday, June 24, 2008
Slide or Cliffdiving?
It's all in the spin. This is far worse than the words belie.