April home prices were .7 percent below levels last reached in March, 2009, the latest milestone in a now months-long slide in real estate values, the research firm notes.
Of course, the last time prices were headed south, in the aftermath of the global financial crisis in the fall of 2008, we saw a panicked Congress and real estate industry rush through the home buyer tax credit, which artificially buoyed sales and prices.
This time around, there's no home buyer tax credit to bail things out and lots of downward momentum to keep prices falling in the coming months.
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