One month after we reported that home prices finally dropped for the first time in year, an observation echoed yesterday by Black Knight which also found that home prices had fallen for the first time in 3 years last month – in the biggest decline since 2011 – we knew the other shoe in the ongoing housing crash was set to drop any minute.
We didn’t have long to wait, because just after the close today, all those who had defended housing as backstopped by Wall Street’s biggest firms and thus unlikely to crash, were suddenly silenced when Bloomberg reported […]
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