US Homes Expected to Lose Over $1.7 Trillion in Value in 2010

Homes in the US were expected to lose more than $1.7 trillion in value during 2010, exceeding their $1.05 trillion loss in 2009, as foreclosures accelerated, real estate data firm Zillow said on Thursday. Zillow estimated, based on the first 11 months of 2010, less than a quarter of the 129 markets it tracks will show gains in total home values in 2010. – Reuters

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