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U.S. Home Prices to Fall 14% More, Deutsche Says

U.S. Home Prices to Fall 14% More, Deutsche Says (News (General))

by administrator @, Wednesday, June 17, 2009, 19:44

June 16 (Bloomberg) -- U.S. home prices may fall another 14 percent, led by the New York and Orange County, California, metropolitan areas, before reaching a bottom as an increase in unemployment offsets lower prices, Deutsche Bank AG said.

“Affordability is no longer the driving issue in the housing market, and we believe prices still have a ways to fall in many areas before home prices reach their trough,” Deutsche Bank investigators led by Karen Weaver, wrote in a report yesterday. “The bottom is getting closer, but we are not there yet.”

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