Thursday, March 13, 2008


Home Values Still Declining

According to the CEO of Freddie Mac, home prices will continue to decline:

"Housing prices in the U.S. have only fallen about one-third as far as they're going to drop, the chief executive officer of Freddie Mac said.

"During a call with analysts on Wednesday, Richard Syron, CEO of the McLean, Va.-based mortgage-finance giant (NYSE: FRE), said prices still have more falling to do, and from peak to trough will decline 15 percent."

The good news for those of us in metro Atlanta is that our home prices did not rise to unrealistic levels during the boom years so they don't have as far to fall. We may see some decline in prices, but there will not be thousands or even hundreds of people in houses worth far less than what they owe.

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