Prices were down 4% in the fourth quarter from the same period in 2010, according to the Standard & Poor's Case-Shiller national home price index released Tuesday. Prices are nearly 34% below their peak in 2006's second quarter, rolling back average home prices to 2002 levels, the index shows.
What's more, home prices fell in December from November in 18 of 20 leading cities, according to another Case-Shiller index.


The market should have already bottomed out if the government hadn't wasted almost a trillion of borrowed money in a futile attempt to inflate prices and the FED had destroyed the incentive to save with near 0% interest rates for almost four years.

What hubris politicians have to think they can control the price of America's housing stock. What ridiculous hubris.

I wonder how many people are old enough in here to remember wage and price freezes from the 1970's. Attempting to prop up housing prices is not different.
A terrible waste of precious financial resources without any meaningful results whatsoever.

Stop the presses, I agree with an economic policy proposal of President Obama.
President Obama wants to end the interest deduction for upper income home owners. Bravo! Bravo!
Why should anyone receive a tax subsidy for owning a home?
You live in a home. Why should any American subsidize anyone else's home?
If you bought a home for an investment why should any other American subsidize your investment.

We should end the mortgage rate reduction tomorrow.
We should also eliminate the exclusion of profits made on a home sale from capital gains taxation.
As long as profits from home sales get taxed at a lower rate than other capital gains the policy artificially drives money into the real estate market, aka it gives incentive for people to invest in homes.

Homes shouldn't be an investment they should be a place where people live.

When homes become an investment the price of homes goes up artificially and individuals in the lower quintiles of the economy lose their ability to own a home to live in.

How many of you can afford to buy a home right now?
The prices of homes needs to keep going DOWN DOWN DOWN I'm sorry to say, and any effort to prop them up is totally wasted effort.

The price of homes to day if far out of proportion to average incomes, and the policies like the community reinvestment act, the Clinton era exclusion of home profits from capital gains taxation, and the creation of an unregulated secondary mortgage market by Fannie Mae/FreddieMac/and the FHA created a bubble in the housing market that we are utterly foolish not to let fully burst so that normalcy can return.

By delaying the pain we don't diminish it we only prolong it.

Those poor ignorant fools in Washington understand so little about the market they couldn't make money selling water in the middle of the Mojave desert.

that's one thing i agree with this homo about, that an economy of propping things up is stupidity. most of the time these policies are just to keep wealth in the hands of the elite. the rich take more money and debt obligations than the economy can sustain, so the government rather than letting them fail, pawns the future income of all working citizens to ensure the rich keep the bs credit they fraudulently obtained.