House prices in US - how low can they fall?
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The US housing market has drifted lower, with house prices falling by 7.22% (seasonally-adjusted) year-on-year to Q3 2011, according to the Federal Housing Finance Agency (FHFA) (figures adjusted for inflation). The seasonally-adjusted Case-Shiller index was more negative, falling by 7.42% from a year earlier, and by 1.61% in the latest quarter.
Yet despite depressed house prices, there are positive indicators:
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