Study: Housing Market Has Fallen More Than During The Great Depression

And now for your midweek dose of gloom and doom:

Paul Dales, senior U.S. economist for Capital Economics, predicted home prices would fall another 3 percent over the rest of 2011 before potentially hitting bottom.

“Even when that happens, I don’t think we’re going to see any significant or sustained rises,” he told Wednesday, predicting “a couple years of pretty much no recovery whatsoever.”

The bleak prediction comes after he released a report estimating that since the collapse began from the pricing peak of 2006, prices have fallen 33 percent — more than the 31 percent dive recorded between the 1920s and 1930s.

Just another success story of Obamanomics.


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About Conservative Wanderer

Conservative Wanderer is currently Editor-in-Chief of That's Freedom You Hear! That means anything that goes wrong can be blamed on him. Previously he was a contributor to the PJ Tatler.
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