Sagging home prices as the economy tries to recover
A look at how home prices have fallen in Patchwork Nation’s community types shows how wide and varied the declines have been in the recession – and what they may mean for any recovery.
Some of the bigger drops have been in the community types that drive consumer spending. And the places at the other end of the home-price spectrum have the least amount of disposable income.
The price data, which come from Zillow.com, don’t include all US counties, and the statistics aren’t necessarily predictive of future economic performance. Still, they offer another warning that any climb out of the recession may be long and slow.