The Case-Shiller home prices index, which tracks US home prices, fell a record-breaking 16.6% from last year in 20 metropolitan areas. [Forbes]
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GOOD. I'll be concerned when it falls below where it would have been if it had risen at the average rate.
"Record-breaking"? It's now record-breaking for real prices to begin showing up after it was realized that the artificially inflated ones couldn't hold up? Say it ain't so, Joe!
I haven't checked lately, but I'm pretty sure prices in my area (Washington, DC) are still hilariously beyond my reach. That's even though I've got some money saved up and I've got a desk job that pays decently (not lavishly, but better than average for someone with only a BA).