US Home Prices Plunge Record 16.6% in August

[w¡n9Nµ7 §£@¥€r 123]

Prices of U.S. single-family homes plunged a record 16.6 percent in August from a year earlier and plummeted more than 30 percent in Las Vegas and Phoenix, Standard & Poor's said on Tuesday.

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"The downturn in residential real estate prices continued, with very few bright spots in the data," David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, said in the statement.

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"As seen throughout 2008, the Sun Belt markets are being hit the most," he said.

Prices in Miami, San Francisco, Los Angeles and San Diego all dropped in excess of 25 percent, he said.

http://www.cnbc.com/id/27416961

[almaty 19]

why do property taxes and assessment go up or stay the same, brohter arijit????

[w¡n9Nµ7 §£@¥€r 123]

why do property taxes and assessment go up or stay the same, brohter arijit????

that has nothing to do with property values. your RE taxes are a function of cost of local government. RE values are just used to proportionally divvy up the burden.

[LaL 418]

Those who have lost value may want to call your insurance companies. You might be able to get your dwelling coverage adjusted lower.

[almaty 19]

thanks brother arijit, i knew you had the answer...