Home values tumble $1.7 trillion in 2010

It's certainly not a sellers market any longer. Home prices have decreased substantially amounting to $1.7 trillion. Yes, trillion! That is more than a 50% increase over last year. The market is continuing to stabilize itself. The government's efforts to help those homeowner's out have proven effective, but only for a limited amount of time. They offered a tax credit for those people who invested new homes, but the prices still decreased. Analysts have stated that it will not become better in the near future, as foreclosures are at an all time high. New York and Los Angeles homes were the biggest losers as their cumulative prices have decreased by $103.7 billion and $38.6 billion respectively. A passive policy will hopefully cure these ailments.