Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

6 of 7
BACKNEXT
Home Prices
Home Prices
At the end of the second quarter of 2008, home prices were down 4.8% from the same period a year before, according to the Office of Federal Housing Enterprise Oversight.

The current drop of 4.8% is actually the worst we have experienced in this generation. But just three years ago, during the housing boom of 2006, home appreciation grew at its fastest rate in the last 28 years. In the second and third quarters of 2005, just as prices started to take off, home prices were up 9.7% from the year before.

Pretty obviously, if a 4.8% decline in home prices is equal to 0 and 9.7% is equal to 10, we're now at the very bottom of the spectrum.

Home Prices: 0

NEXT: The numbers tell it

Last updated October 31 2008: 9:42 AM ET
More Galleries
Homes in these ZIP codes are selling like crazy Strong job growth, growing interest from Millennials and affordable home prices are attracting home buyers to these cities. More
Working class whites & the government: It's complicated These Clearfield, Pennsylvania, residents are mad at D.C., but want more help. More
Dear Trump and Clinton: Here's what swing voters want These voices are based on interviews with American voters from the key swing states of Florida and Ohio. It's part of a special report titled "Your money, your vote," that will air on CNN on October 15. More

Special Offer