After dropping another 1.9 percent in the first quarter of this year, housing prices have now experienced a 33-percent decline since the housing crisis began in 2006, according to the latest Case-Shiller data. “This housing crash has been larger and faster than the one during the Great Depression,” writes senior economist Paul Dales. The sharp plunge in prices did slow towards the end of the quarter, but is predicted to continue with 4.5 million households either three payments late or in foreclosure proceedings.
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