Housing prices in the U.S. has decreased beyond predictions. It's a sign, the U.S. property sector, especially housing, will remain weak despite the U.S. economic recovery continues to rise ahead of the new year.
Just so you know, the S & P / Case-Shiller index of housing prices fell 0.8 percent from October 2009. This is the highest annual decline since December 2009. The decrease was exceeded estimates of analysts surveyed by Bloomberg.
The existence of a wave of defaults that currently haunt the housing market suggests the U.S. house prices will continue to pressure in 2011.
It is actually already shared by Fed policy makers say, depressed property sector and high unemployment will still be hit consumer spending. It is also the reason for the Fed to delay flushing the monetary stimulus that reached record highs.
"We're still going to be in negative territory in the months ahead. housing market is still weak and there is no single data indicating no improvement in this sector,"said Dean Maki, chief U.S. economist at Barclays Capital Inc.
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