The Declining Market

According to the Associated Press, there are some discouraging facts recently posted:

* Home prices tumbled by the worst annual rate on record in the fourth quarter

* Almost 14 million homeowners are already under water, according to Moody’s Economy.com (where they owe more than the home is worth)

* Confidence index sank to new lows in February as widespread layoffs, shrinking retirement accounts and plunging home prices fueled fears as stated by the

* The Standard & Poor’s/Case-Shiller U.S. National Home Price Index plunged more than 18 percent during the quarter from the prior-year period, the largest drop in its 21-year history

Read full story from the Associated Press.

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