"home values in 20 large metropolitan areas across the country dropped at a record pace in October as the fallout from the financial collapse reverberated through the housing market, according to data released Tuesday."
"The price of single-family homes fell 18 percent in October from a year earlier, according to the closely watched Standard & Poor’s/Case Shiller Housing Index. All 20 cities reported annual price declines in October; prices in 14 of the 20 metropolitan areas surveyed fell at a record rate as the financial crisis reached a critical point."To those of us in the New Jersey real estate marketplace, the foregoing comes as no surprise. Pessimism appears to rule, so we should live by another rule, non carborundum illegitimi est!
Read Home Prices Fell at Sharper Pace in October
Vested Title Inc., 648 Newark Avenue, P.O. Box 6453, Jersey City, NJ 07306.
Tel 201-656-9220. Fax 201-656-4506.
E-mail vti@vested.com - www.vested.com
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