America's house prices are falling even faster than during the Great Depression

[jeffrey]

AS HOUSE prices in America continue their rapid descent, market-watchers are having to cast back ever further for gloomy comparisons. The latest S&P/Case-Shiller national house-price index, published this week, showed a slump of 14.1% in the year to the first quarter, the worst since the index began 20 years ago. Now Robert Shiller, an economist at Yale University and co-inventor of the index, has compiled a version that stretches back over a century. This shows that the latest fall in nominal prices is already much bigger than the 10.5% drop in 1932, the worst point of the Depression.

House prices | Through the floor | Economist.com

[choicearizona]

A friend of mine who is a realtor believes homes are going down at least another 10%. We're in Arizona, which usually weathers these storms pretty well. Then again, we had such a massive run up in home values we are probably just seeing the expected adjustment.

[gamecock43]

Anybody have a prediction for Georgia housing market? I live out of stateand am thinking of buying there sometime this fall/winter..Georgians..any thoughts?