Housing Armageddon Arrives Just in Time for the Holidays
Source: Clear Capital (www.clearcapital.com)
The Clear Capital Home Data Index (HDI) shows that national home prices have declined
5.9% in just two months and are now at the same level as in mid April 2010, two weeks prior to the
expiration of the federal homebuyer tax credit. This significant drop in prices, in advance of the
typical winter housing market slowdown, paints an ominous picture that will show up in other
home data indices in the coming months.
Most home buyers who received the federal housing tax credit will soon be underwater on their mortgages. Happy holidays!
Posted by Whitney Ross at 10/25/2010 12:47 PM 
Categories: Housing Market Analysis, Focus on Home Prices
Categories: Housing Market Analysis, Focus on Home Prices
And it'll most likely get much worse before much better. See patrick.net for articles showing the disaster around the country, except hopefully not in the Baltimore-Washington corridor for awhile. And could anyone with more than 1/2 a brain imagine how much worse it'd be (and will be) when the federal govt has to ramp down its unsustainable $1.5T deficit-spending? The chickens are coming home to roost for all the do-gooder Democrats with power over the last 80 years -- FDR, LBJ and Clinton's 7/1/95 CRA regulations that REQUIRED banks & S&Ls to make huge fractions of loans to poor people, thus destroying lending prudence and with a good economy, guaranteeing a ticking time-bomb of a housing boom and bust.
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