National Debt Clock

Wednesday, July 1, 2009

Home prices post 18.1 percent annual drop in April

"Four months ago, the Obama administration detailed its "Making Home Affordable" initiative. But progress has been slow. "So far (the modification program) isn't showing large numbers, which tells me that it's not working and that's a problem," said Patrick Newport, an economist with IHS Global Insight."

"Prices are still dropping. They're just no longer in freefall," Newport said.

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