WORLD
Home prices in the US are descending again in most major cities after posting small gains over the summer and spring, according to the Associated Press.
Home prices in the US are descending again in most major cities after posting small gains over the summer and spring, according to the Associated Press.
According to the agency, The Standard & Poor's/Case-Shiller index released on Tuesday revealed that rates dropped in September from August in 17 of the 20 cities that were monitored. That was the first decline after five straight months where at least half of the cities showed monthly gains.
Cities like Atlanta, San Francisco and Tampa posted the biggest monthly price declines. Prices in Atlanta, Las Vegas and Phoenix fell to their lowest home point since the housing crisis began four years ago. Prices rose in New York, Portland and Washington.
High unemployment and weak job growth even two years after the recession ended, have made Americans reluctant to purchase a home.
Even the lowest mortgage rates in history haven't been enough to lift sales. Some people can't qualify for loans or meet higher down payment requirements. Many with good credit and stable jobs are holding off because they fear that home prices will keep falling. Sales of previously occupied home sales are on pace to match last year's dismal figures — the worst in 13 years.
The Case Shiller index, which covers half of all US homes, measures prices compared with those in January 2000 and creates a three-month moving average. The September data has revealed that prices are certain to fall again once banks resume millions of foreclosures. They have been delayed because of a yearlong government investigation into mortgage lending practices.
The index shows that home prices had stabilised in coastal cities over the past six months, helped by a rush of spring buyers and investors. But this year, home prices in many cities, including Cleveland, Detroit, Las Vegas, Phoenix and Tampa, have reached their lowest points since the housing bust more than four years ago.
Donald Trump plans to end Russia-Ukraine war with THIS move, is expected to 'soon' appoint...
As pollution worsens in Delhi with AQI at 'severe' level, experts at COP29 urge India to...
SDM Assault Case: 60 people arrested in Rajasthan's Tonk
Veg thali cost more than non-veg thali in October, here's why
Land drug trafficking patterns in North-Eastern Region
Shillong Teer Result November 14, 2024: Know updates on lucky winning numbers
Mukesh Ambani's SUPERHIT offer for Jio users: Get unlimited validity for 84 days at just Rs...
Delhi air quality dips to 'severe' category as AQI nears dangerous...
Bigg Boss OTT-fame Bhojpuri actress Akshara Singh receives extortion threat
‘All I do is…’: After Arjun Kapoor confirms breakup with Malaika Arora, her cryptic video goes viral
World Diabetes Day 2024: Types, causes, precaution to avoid this chronic disease
Children's Day 2024: 50 WhatsApp wishes, messages, quotes to share on bal diwas
AUS vs PAK Live Streaming: When and where to watch Australia vs Pakistan 1st T20I live in India?
IND vs SA: Ramandeep Singh achieves THIS feat on T20I debut, joins Suryakumar Yadav in elite list
Meet man who used to earn just Rs 65, now heads Rs 23416 crore company, he is…
DNA TV Show: Arsh Dalla, Khalistani terrorist, arrested in Canada
Pushpa 2 first review: Rashmika Mandanna says Allu Arjun movie is 'freaking amazing'
SA vs IND: Tilak Varma scripts history with maiden century in 3rd T20I against South Africa
Delhi becomes world's most polluted city, overtakes Pakistan's Lahore, AQI recorded at...
Last Supermoon of 2024: Know when and how to watch it and other details here
Noida man arrested for creating ‘cannabis nursery’ inside house after being inspired by…
Actor John Krasinski named 'Sexiest Man Alive 2024' by People magazine
Meet outsider who worked in bank for eight years, became OTT star, will now star opposite Kajol in..
What is wedding invitation scam, how to protect yourself from it?
Arjun Tendulkar achieves rare feat which father Sachin Tendulkar never did in his 25-year career
Mukesh Ambani suffers Rs 12548 crore loss after buying Star from Disney, here's how
Ananya Panday sets Instagram on fire in sizzling bikini; BFF Suhana Khan, mom Bhavana Pandey react
International Trade Fair 2024 in Delhi from Nov 14: Know ticket price, timings, venue and more
SA vs IND: Varun Chakravarthy eyes Ravichandran Ashwin's all-time India record in T20Is
This govt company sold Rs 28880000000 shares of Ratan Tata firm, reduces its holding to...
Delhi Air Pollution: AQI hits 'Severe' category, record high in India today with 418
Tesla CEO Elon Musk spreading misinformation on X? His own AI model says...
Independent candidate slaps SDM outside booth during Rajasthan bypolls, watch video here
Viral video: Vistara crew bids emotional farewell on last flight before merger with Air India, watch
NBR Group Redefines Luxury Living With New Brand Identity, Tagline, and Logo
Resham Kamboj: Empowering Souls and Financial Freedom Through Spiritual Mentorship
NTPC Green Energy Rs 10000 crore IPO: Check subscription date, price band, lot size and more
India’s first hydrogen train to start trials soon: Check route, features, top speed to be…
Tejasvi Jaiswal's selfless sacrifice for brother Yashasvi Jaiswal rewarded with life's greatest gift
Mukesh Ambani, Isha Ambani to shut down these outlets under Reliance Retail due to...
Watch viral video: This MP stole Bill and ran away with intention to...
US comedian's hilarious imitation of Donald Trump goes viral, watch video here
Jharkhand Assembly Elections 2024: CSK legend MS Dhoni and wife Sakshi cast vote in Ranchi - Watch
LoP Rahul Gandhi rides Kerala's longest zipline in Wayanad to boost tourism after landslides; watch
Nita Ambani stuns in floral ensemble as she poses with Anupam Kher at NMACC
Anil Ambani's company makes HUGE profit in 3 months, market cap now reaches Rs...