All of the media hysteria relates to home values compared to one year ago. What is seldom, if ever, mentioned is that home values were utterly unrealistic one year ago (in SOME locations).
Click the image to enlarge:
I personally created the above chart.
Source: This spreadsheet downloaded from this page
(July 2008 data published on 9/30/08)
Click here for a broader perspective
on the housing correction.
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