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Officially Worse than that Great Depression

Prices fell from Feb. to Mar. in 18 of the 20 metro areas tracked by the S&P/Case-Shiller index. In a dozen of those cities markets are at their lowest points since the housing crisis started, driven lower by foreclosures, a glut of unsold homes, and the reluctance or inability of many to buy. The index is in its 8th straight month of decline and indicates that prices have now fallen further than they did during the Great Depression. It took 19 years for the housing market to rebound after that.

– DEREK KRAVITZ, AP Real Estate Writer for Yahoo! Finance

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