Shiller sees scope for further home price declines up to 25%

WASHINGTON (MarketWatch) – Home prices in 20 major U.S. cities fell 1.0% in December compared with November, the fifth consecutive monthly decline after a tax incentive expired, according to.

Robert Shiller, the Yale professor who started the index along with Karl Case of Wellesley, said this month that "there’s a substantial risk of home prices falling another 15%, 20% or 25%."

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After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in.

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Housing prices are back to where they were in late 2002 according to the latest Case-Shiller report that tracks housing prices. February data shows 15 of 20 cities surveyed showed price declines. Overall, the prices sank 3.5% annually. Atlanta fared the worst with a 17.3% year over year fall in home prices.

“My intuition rates the probability of another 15%, 20%, even 25% real home price decline. further,” Dales said. Mark Zandi, chief economist for Moody’s Economy.com, predicted that home prices.

The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.

The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.4% and was up 6.5% compared to a year ago in March. The 20-city index rose a seasonally adjusted 0.5% and was 6.8%.

Creating more homeowners without building a crisis NAR existing home sales increase 2.1% in October That’s up 2.1% from September, when the revised annual rate of existing home sales was 4.69 million. And it’s an increase of 11% year-over-year, when the annual rate was 4.32 million.LA man sentenced to 11 years in foreclosure scam A Bell Canyon man was sentenced to more than 11 years in prison Monday for running a commodities futures trading firm that defrauded investors out of more than $95 million, prosecutors said. Zvi.Or, maybe the construction process went very smoothly. That is, until you moved in. That is when you find out that the house was built two feet short, that your foundation is cracked or your roof trusses are unattached to the rest of your home. Your garage doesn’t fit the mid-size sedan you just bought.

The S&P Case-Shiller home price index fell in line with expectations. July’s 166.2 reading was revised up slightly to 166.3. The three-month annualized rate of decline was 9.25% in the August,

I plugged in the Case Shiller. home prices to ever happen in our lifetimes, and that is why the pace of home sales has picked up dramatically. Price declines like this can’t go on much further,

At the same time, existing home sales grew last month to the highest level in three years, NAR said. The Case-Shiller numbers are similar to those reported by other home price trackers. Mortgage watcher Lender Processing Services reported Wednesday that its October home price index shows national home prices up 4.3% from a year ago.

BC-Ghana-Central-Bank-Sees-Scope-for-Further-Interest-Rate-Cuts , Ekow Dontoh (Bloomberg) — Ghana’s central bank has room for another interest-rate cut as early as next month, according to a member of the Monetary Policy Committee.