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US house prices fall again

Economic growth, Financial Events, Leverage

US house prices continued their downward path in August, and “every region reported negative annual returns”, according to today’s new Case-Shiller index. Nationally, average prices were down 17%, with Phoenix and Las Vegas down over 30% since last August. The recent Panic in financial markets makes a quick recovery even more unlikely. US chemical companies would be wise to budget for relatively low levels of demand from this important sector during 2009.