Housing market still dropping; Nevada home values expected to drop 20 percent
The housing market just can’t seem to catch a break. According to an article in the Review Journal, since mid-2006, home prices have slipped further than they did during the 1990-91 recession.
Professional traders expect a drop of 10 percent more next year. One West Coast university economist predicted a home price drop of 20 percent in Nevada in the next few years.
According to the article, dropping home values can spur homeowners to restrict their spending habits, which has already lead to Target Corp. and Lowe’s Cos. to trim their profit expectations for the year.
Read the full Review Journal article here.
