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This year’s drop in home values is $1.7 trillion

Posted on Thursday, December 9, 2010

This year’s drop in home values is $1.7 trillion. 63%, bigger than the $1 trillion 2009 drop. Total lost value since the 2006 peak is $9 trillion. Perhaps worse news is that almost $700 billion in value was lost in the first half of the year but even more, $1 trillion, was lost in the second half, meaning losses are increasing. areas suffering the biggest drops in home prices include New York City, which lost $103.7 billion, and LA at $38.6 billion.

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