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Friday, December 10, 2010

The losses keep piling up...


US Homes to Lose $1.7 Trillion in Value This Year

The U.S. housing market is expected to lose $1.7 trillion in market value in 2010, according to estimates by Zillow.com, a real estate research firm.

According to Chicago-based Zillow, U.S. home prices have lost $9 trillion in total value since real estate prices peaked in June 2006, Zillow said on Thursday.

"Despite a strong start to 2010, by the end of the year homes lost more of their value in 2010 than they did in 2009," said Zillow chief economist Stan Humphries in a statement


Link:
http://www.theepochtimes.com/n2/content/view/47279/

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