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Chart of the Day: Here's proof that public housing prices dropped the most since 2005
4Q13 index down 0.8%.
According to Barclays, private home prices have posted the first drop in seven quarters – the 4Q13 URA private home price index fell 0.8% q/q, bringing the full-year 2013 to a slight increase of +1.2%, which compares to increases of 2.8%/5.9%/17.6% in full-year 2012/2011/2010.
Private home prices are now 61% above the last trough in 2Q09.
Here's more from Barclays:
Private home prices are still 61% above 2009 levels and GDP, employment and interest rates still appear favourable.
In the previous two cycles, the unwinding of tightening measures only started after the onset of a crisis and a significant fall in property prices.
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