January 21, 2010
Graph of the Day for January 21, 2010
"The housing sector is now at the root of three distinct but related problems: First, a sharp decline in house prices and the related fall in home building that could lead to an economy-wide recession; Second, a subprime mortgage problem that has triggered a substantial widening of all credit spreads and the freezing of much of the credit markets; And, third, a decline in home equity loans and mortgage refinancing that could cause greater declines in consumer spending."
![](/legacy_assets/blog/old_root/inv_global_housing_1.jpg border=)
Hoven's Index for January 21, 2010
Average housing price growth in the US for recent years (3rd quarter to 3rd quarter)
by ending quarter:
by ending quarter:
3rd quarter 2009: -3.8%
3rd quarter 2008: -6.5%
3rd quarter 2007: +1.1%
3rd quarter 2006: +5.0%
3rd quarter 2005: +9.5% (peak)
Source: Federal Housing Finance Agency, House Price Index.
Graph of the Day Archive.
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