Now Fannie Mae is saying that home prices will decline 5%. That's on top of the 3% through end of the year. The drop is going to be nationwide.
No wonder Fannie is cutting is dividend and planning a $7billion sale of preferred stock.
It said single-family serious deliquincy rates are increasing. This will increase pressure on the pricing.
If you ask the morons at NAR, they will tell you it's still a great time to buy.
http://www.bloomberg.com/apps/news?pid=20601087&sid=azX1YZtWO_ns&refer=home
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