From the Wall Street Journal:
Home Prices Tumble
U.S. home prices fell again in November, according to the Standard & Poor's Case-Shiller indexes, indicating continued struggles for the beleaguered housing market.
The sector has remained sluggish despite lower prices and interest rates due to a slowly improving economy, an abundance of foreclosures and tighter mortgage requirements.
"Tighter lending standards and widespread expectations of further declines in home values have been depressing home sales on a larger scale," said economists Ellen Zentner, Aichi Amemiy and Jeffrey Greenberg of Nomura Economics Research in a note to clients. "In addition, a growing share of distressed assets in home sales that are typically sold at a 20% discount are putting downward pressure on house prices."....
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Link: http://online.wsj.com/article/SB10001424052970204652904577194752102528744.html
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