Article: NO CONFIDENCE; Home prices, consumer numbers plunge again.(BUSINESS)

Byline: David M. Dickson, THE WASHINGTON TIMES

Home prices plunged at a record rate in October, reaching their lowest levels in 4 1/2 years, a closely monitored housing report revealed Tuesday.

With home foreclosures and layoffs continuing to rise and consumer confidence plummeting to a record low in December, housing prices are not likely to hit bottom anytime soon, analysts say.

Home prices in the Washington metropolitan area declined 2.7 percent in October, the largest monthly decrease on record. Compared with October 2007, Washington-area prices were 18.7 percent lower, according to the Standard & Poor's/Case-Shiller Home Price Indices.

House prices in ...

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