WASHINGTON — US home prices have sunk below levels seen during the "Great Recession," according to data revealed Tuesday, sparking renewed pessimism about a key pillar of the spluttering economic recovery.
Unless you are selling a house in Washington or buying one in Minnesota there is little cause to celebrate the state of the US housing sector.
Despite ultra-low borrowing rates, experts say a steady flow of repossessed homes onto the market, tighter bank lending rules and high unemployment have kept prices at rock bottom.
Wednesday, June 01, 2011
Looks like another "Recovery Summer".
Posted by traderrob at 4:44 AM