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- You Can Kiss $2.84 Trillion in Housing Equity Goodbye: The Continued Decline in Real Estate.
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It is hard to wrap your mind around the size of the American housing market. Today’s Case-Shiller Index reported a further deterioration in the housing market. The difficulty in determining what real estate was valued at the absolute peak is somewhat hard to determine since many regions hit peaks at various different times. The one major thing that we can do however is take a look at the composite of the 20 cities used in the Case-Shiller Index and see when the peak was reached. Why use the Case-Shiller Index? It is generally seen as the most reliable source of price changes since it uses a repeat sales pricing technique. What we can then do to get a general estimate of the total housing value is use the Federal Flow of Funds Account and take a look at the value of homeowner equity near the peak, followed by looking at mortgage debt to get a general idea of the size of the United State residential real estate market. First let us look at the Case-Shiller chart:
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Original Source: feeds.feedburner.com/DrHousingBubble-HowILearnedToLoveSocal
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30 April, 2008| housingblogs |
@ 8:09