The Economy: Why it feels so bad

6 of 7

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

Email | Print |

Digg this story |

RSS

• Economy: Why it hurts

• America's Money Crisis

• The crisis: A timeline

• How the credit crisis affects you

More Galleries

10 of the most luxurious airline amenity kits

When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More

7 startups that want to improve your mental health

From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More

5 radical technologies that will change how you get to work

From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer