S&P: Home prices post 16 pct. annual drop in July

yahoo finance ^ | 9/30/08 | unkown

[central_va]

NEW YORK - A closely watched index shows home prices tumbling by the sharpest annual rate ever in July, but the rate of decline is slowing.

[central_va]

Ok it is down 16 from the top, but the true loss would be measured from a 2000 baseline. It is probable down 50% if measured that way.

[itsthejourney]

Funny thing, I don’t see a drop in my property tax.

[rabscuttle385]

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[GreaterSwiss]

So will property taxes go down as fast as they shot up?

[NoGrayZone]

Good, it should drop. These homes have been GROSSLY over inflated!

[Fresh Wind]

The Dow dropped by about 200,000 points yesterday, on an annual basis.

[expat_panama]

Somehow these opaque proprietary indexes from AP are a bit hard to take seriously.    Here's the only home price index that I've found so far:

[central_va]

The Dow dropped by about 200,000 points yesterday, on an annual basis.

Pretty good! LOL

[gieriscm]

No, they just keep going up.

[VanShuyten]

Ours reset once a year, in January. Then you have 30 days to file a written argument disputing their valuation. Their valuation includes recent comparable sales, but also has a weasel clause that allows them to estimate “true value”, what ever that is, in case the recent sales prices are too low for our property taxes to fund their beach houses.

[meyer]

Funny thing, I don’t see a drop in my property tax.

Ceasar gets his cut first. If there's anything left, live it up!

[GOPJ]

Thanks for the ping.