Home Values Heading South

As financial portfolios decline in Wall Street's Stock Market debacle, so do the prices for most people’s largest asset, their homes. On average, NYC July 2008 home values dropped 16.3% since last July. The study didn’t include co-ops and condos. There are some signs of a price-drop slowdown but no basement price is in sight yet. New York City homeowners did comparably better than owners in other cities. That's little consolation to those hurting here. This bad economy is hitting most of us hard … right where we live.