Prices to bottom
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After more than three years of declines, home prices will hit bottom—finally!—in 2010, but not before additional losses, says Mark Zandi, the chief economist of Moody’s Economy.com. Zandi projects home prices will hit bottom in the third quarter of 2010 after logging a peak-to-trough decline of roughly 37 percent. “That means we’ve got another roughly 10 percent [decline] to go,” Zandi says.
