long-predicted double-dip in housing has begun, with cities across the country falling to their lowest point in many years, data released Tuesday showed.
“A double-dip could be confirmed before spring,” the chairman of S.&P.’s index committee, David M. Blitzer, said.
Eight of the 20 cities in the index fell to new lows for this cycle, including Atlanta; Charlotte, N.C.; Portland, Ore.; Miami, Seattle; and Tampa, Fla. Only a handful of places — essentially California and Washington — saw prices rise.
Prices in Atlanta and Chicago fell more than 7 percent, exceeding even the drops in the perennially troubled Detroit and Las Vegas.
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