Home Prices drop to level in 2004 (William Chirolas)

  Nov. 25, 2008 (World News Trust) -- To find your city's real estate price drop go here and look at (you can save to your computer if you like) the Sept. 08 (the one released today) spreadsheet.

  Examples of PERCENTAGE drop from July 2006 top of market:

  CHI 11.2% BOS 9.8% VEGAS 37.9% NYC 11.0% TAMPA 28.1% MIAMI 35.7% DC 24.3% LA
32.4%

  Which is similar to prices in each area during one of the months in 2004
before the great real estate rise that occurred caused by the new liars
loans (no proof of income and teaser 1% interest w/ no principal payment and
with the principal increases for unpaid interest loans).

  The drop is not as bad as they make it sound.

  U.S. Economy: Home-Price Drop Accelerates, GDP Falls

  By Timothy R. Homan and Shobhana Chandra

  Nov. 25 (Bloomberg) -- The decline in U.S. house prices accelerated in September and the economy shrank in the third quarter at a faster pace than first estimated as the grip of the credit crunch tightened.

  The S&P/Case-Shiller home-price index fell 17.4 percent from a year earlier.

  The Commerce Department said gross domestic product dropped an annual 0.5 percent as household spending slid the most since 1980. While consumer confidence rose this month, the Conference Board's gauge remained near the lowest on record.<snip>