Home Prices May Fall 40%

Now before you bears jump all over this Barclays report, please understand, that unlike the one put out by DB, this relates to the NATIONAL housing market. There is therefore absolutely no guarantee that NYC will see 40% declines. This Barclays report predicts that hosuing prices will fall 40% from the peak (a little less gloomy than Deutsche Bank's report). Such a report, in my opinion, is a... [more]

Now before you bears jump all over this Barclays report, please understand, that unlike the one put out by DB, this relates to the NATIONAL housing market. There is therefore absolutely no guarantee that NYC will see 40% declines. This Barclays report predicts that hosuing prices will fall 40% from the peak (a little less gloomy than Deutsche Bank's report). Such a report, in my opinion, is a complete waste of time, expecially that it is late to the game consdiering that prices in some bubble markets like Phoenix and Vegas have already fallen over 50%. So all this report does is tell the people in Phoenix, Vegas, and other bubble markets that the sky is blue and the clouds are white. U.S. housing prices will fall by a double-digit percentage from already beaten-down levels, resulting in an overall 40 percent plunge by the time foreclosures peak in the second half of 2010, Barclays Capital economist Michelle Meyer said. http://www.cnbc.com/id/31713614 [less]