Tuesday, May 31, 2011

S&P/Case-Shiller home-price index shows double dip

US home prices fell 4.2% in the first quarter of 2011. This was  a new post-bubble low and sent the housing sector into a double dip.

Housing prices in the Tampa metroplitan area declined 6.9 per cent from the previous year. 

Congress passed tax credits in 2008 and 2009 for first time home buyers but the program was not continued when the GOP-controlled 112th Congress took control in 2010. 

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