A quick update on my previous post, “How bad will the credit crunch get?“: the May figures for the Case-Shiller house price index featured in that graph are out, and they are down again. The index now stands at 186.06, compared to 226.29 at its peak in June 2006 and with 200.76 in December 2007. US house prices are now at the lowest level since September 2004.
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