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‘Millionaire Homes’ May Lose Value Until 2012

‘Millionaire Homes’ May Lose Value Until 2012 (News (General))

by administrator @, Wednesday, June 17, 2009, 19:49

Prices for the most expensive U.S. homes may not reach bottom for another few years, according to JPMorgan Chase & Co.

The CHART OF THE DAY shows the supply of unsold homes by price in California, data that the mortgage-bond investigators including John Sim and Matthew Jozoff used in a June 12 report to illustrate the weakening market for the most-expensive residential properties. The supply of homes priced $750,000 to $1 million held steady while the supply of more expensive properties increased.

Click on the following link to read more…

http://www.bloomberg.com/apps/news?pid=20601109&sid=aXQ2MXGoSysw


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