NEW YORK CITY-Moody's Analytics has reported that the prices of homes could decline by 20% and could recover only after 2012 if the economy slips back into recession again. The chances of recession happening again have increased from 20% to 25%.
However, the most probable scenario is that the prices would fall 5% as the economy grows at 3%. Values of homes are currently 29% below the peak set on July 2006. For the full story, go to The Detroit Free Press.
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