Zillow: Homes fell $1.7 trillion in 2010, same in 2011

This year's estimated decline, more than the $1.05 trillion drop in 2009, brings the loss since the June 2006 home-price peak to $9 trillion, the Seattle-based company [Zillow] said today in a statement.

"It's definitely going to continue into 2011," Stan Humphries, Zillow's chief economist, said in an interview on Bloomberg Television today. "The back half of 2010 looked horrible and 2011 should look like the mirror image of that."

U.S. Home Values to Drop by $1.7 Trillion This Year, Zillow Says

By Hui-yong Yu and John Gittelsohn
December 10, 2010 Bloomberg

URL: http://www.bloomberg.com/news/2010-12-09/homes-in-u-s-poised-to-lose-1-7-trillion-in-value-this-year-zillow-says.html