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The Los Angeles Times recently published this chart of the steepest home price declines in the U.S. It shows the major metropolitan areas (population greater than 250,000) with the greatest reduction in home prices from 2006-2008. It’s striking to see the concentration in California and Florida. Our “national crisis” has be greatly affected by essentially two states — and the automotive industry. The complete Home Price Decline article has a listing of the metropolitan areas and the percentage drop for the three-year period. |
Chart courtesy LA Times |
