KB Home co-founder says home prices could fall 20% more

Eli Broad, the co-founder of KB Home, told Bloomberg TV yesterday that home prices could fall another 20%. Here’s a link to the story. That is an absolutely enormous amount when you consider that prices have already fallen a bunch. Today the Standard & Poor’s/Case-Shiller Home Price Index for February was released. It showed that the 20-city index fell 12.7% from a year earlier and is down 14.8% from its all-time high in July 2006.

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