Thread: Shiller: Home Price Slide Accelerates

Shiller: Home Price Slide Accelerates

U.S. home prices declined in October, setting a new record for a one-month drop.

It was the 10th straight price drop, falling 6.7 percent year on year, according to the Standard & Poor's/Case-Shiller home price index, which measures existing home sales in 10 key metro areas.

The previous record decline was 6.3 percent, in April 1991.

"No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim," said Yale Professor Robert Shiller, who helped create the index, in a statement.

Prices fell 1.4 percent in October compared to September.

A broader index of 20 metros fell 6.1 percent. Of those 20 areas, 11 fell by record amounts during October.

"This is just the beginning," Peter Schiff, a Connecticut investment adviser, told CNNMoney. "Pressure is there for much, much lower prices.â€

Does anyone else believe that this home loan/default fiasco was intentionally created by the Federal Reserve and its elite owners as part of their war on the middle class? The Federal Reserve collects banking and mortgage data on a daily basis. They knew what's going on. They just don't want us to know.
The Powers that Be want us to be poor and having to look to our corrupt government for help. It's called CONTROL.

Sure looks like it to me.... as well it coinsides with the massive Illegal Immigrant boom

Originally Posted by reform_now

Does anyone else believe that this home loan/default fiasco was intentionally created by the Federal Reserve and its elite owners as part of their war on the middle class? The Federal Reserve collects banking and mortgage data on a daily basis. They knew what's going on. They just don't want us to know.
The Powers that Be want us to be poor and having to look to our corrupt government for help. It's called CONTROL.

The debt is owned by banks all over the world.
Now more foreigners will have part of US.
I believe this was fabricated by Greenspan.