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Chart of the Day
Recent press reports suggest that the US real estate market is slowing. For some perspective, today's chart illustrates the US median price of a single-family home over the past 36 years. Thanks, in part, to low long-term interest rates, the trend over the past decade has been impressive. Not only did housing prices increase at a rapid rate, the rate at which housing prices increased - increased. That brings us to today's chart which illustrates how housing prices have just dropped below their accelerated upward trend. Stay tuned...
Notes:
- Will housing prices drop further? The answer may surprise you. Find out with the exclusive charts of Chart of the Day Plus.
Source - National Association of Realtors
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Quote of the Day
"There is a tendency for things to right themselves." - Ralph Waldo Emerson
Events of the Day
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November 11, 2006 - Veterans Day
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