More falling home values: The S&P/Case-Shiller Home Price Index, which looks at home prices in 20 metropolitan areas, reports that in the "Los Angeles area, which includes Orange County, the February index showed a 24% drop from a year ago. The Los Angeles/Orange County index was down 40% from its 2006 peak," reports the Los Angeles Times. If there's a silver lining, it's that the "downward trend did not pick up speed," reports the New York Times, noting that the price of "single-family homes in 20 major metropolitan areas fell 18.6 percent from the year earlier, compared with a record drop of 19 percent in January." [LAT/NYT]
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