{"id":399509,"date":"2011-04-26T14:04:52","date_gmt":"2011-04-26T14:04:52","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/26\/no-end-yet-to-us-house-price-fall\/"},"modified":"2011-04-26T14:04:52","modified_gmt":"2011-04-26T14:04:52","slug":"no-end-yet-to-us-house-price-fall","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/26\/no-end-yet-to-us-house-price-fall\/","title":{"rendered":"No end yet to US house price fall"},"content":{"rendered":"

26 April 2011<\/span> Last updated at<\/span> 10:04 ET<\/span><\/span><\/p>\n

US house prices fell for the eighth month in a row in February and are nearing lows reached during the 2009 recession, a survey has said.<\/p>\n

The Case Shiller housing index, which is compiled by rating agency Standard & Poor’s, was down 3.3% from a year ago.<\/p>\n

“There is very little, if any, good news about housing,” said David Blitzer, S&P’s index committee head.<\/p>\n

“Prices continue to weaken, trends in sales and construction are disappointing.”<\/p>\n

Recent data confirms that the US housing market remains in a “slow recovery”, says Mr Blitzer, with home sales still close to recent lows and repossessions and mortgage payment delinquencies still elevated.<\/p>\n

Of the 20 cities tracked by the closely-watched index, 19 registered falling prices over the past 12 months, according to the company’s latest data release<\/a>.<\/p>\n

The one exception is Detroit, at the heart of the US rustbelt, where prices finally appear to have bottomed out.<\/p>\n

However, home values in Detroit remain 30% below their level of 2000, thanks to a market slump in the city caused by the near-collapse of the US car industry.<\/p>\n

The index is now just 0.4% above the low it reached in May 2009 following the bursting of the US housing bubble.<\/p>\n<\/div>\n

Read more:
\nNo end yet to US house price fall<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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