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Home price drops exceed Great Depression: Zillow

By Implode-Explode Heavy Industries

``Home prices have fallen 26 percent since their peak in 2006, exceeding the 25.9 percent drop registered in the five years between 1928 and 1933, the housing data company said in a report on Monday. Prices fell 0.8 percent over the month... Declines are accelerating, and it will take a while before falling unemployment and other signs of economic improvement support the market, Zillow said.''

Full post as published by Mortgage Lender Implode-o-Meter on January 13, 2011 (boomark / email).