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Atlantic | Home Prices May Drop Another 25%


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With all the talk of the awful sales numbers for both existing and new homes in July, there was one small kernel of seeming good news: existing home prices rose slightly. The national median home price actually increased by 0.7% last month compared to a year earlier, according to the National Association of Realtors. But don’t expect this trend to continue — prices still have a ways to fall before they settle at their natural level.

Several weeks ago, Barry Ritholtz posted the following chart. It was originally featured by the New York Times, and updated by a commenter to Ritholtz’s blog named Steve Barry.

Read the entire article at the Atlantic:   Home Prices May Drop Another 25%.

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