Skip navigation

Symbol
Lookup

RegisterSign In

Member CenterSign Out

Register

HOME

NEWS

MARKETS

EARNINGS

INVESTING

VIDEO

CNBC TV

CNBC 360

CNBC PRO

U.S.

Asia-Pacific

Europe

Economy

Energy

Green

Technology

Blogs

Wires

Slideshows

Special
Reports

Corrections

There Must Be A Pony In Here Somewhere

RECENT POSTS

» More

Current DateTime: 10:12:07 15 Jan
2011
LinksList Documentid: 28897362
Expiration DateTime: 1/15/2011
10:15:42 PM

Invasion of
Privacy: Photos of the Facebook CEO's New House

The Most
Outrageous Mistakes Made at Job Interviews

Housing Market
Slips Into Depression Territory

11 Signs the Job
Market Is Improving in 2011

Viral Video Star
Has ‘Golden Voice,’ 20-Year Criminal Record

Homeless Guy With
Golden Voice Now a Web Sensation

10 Mobile Apps to
Help You Keep Your Financial Resolutions

Holidays With the
BlackBerry: Are You a Workaholic?

One of the Most
Depressing Jobs...Ever

20 Ways to Manage
Your Boss

MOST
SHARED

Current DateTime: 10:12:07 15 Jan
2011
LinksList Documentid: 31330905
Expiration DateTime: 1/15/2011
10:15:45 PM

Greece Should
Restructure Debt: Slovak Finance Minister

My 13 Golden Rules
Of Twitter

Housing Market
Slips Into Depression Territory

Facebook
Co-Founder Speaks Publicly: What I Learned From Watching “The Social
Network”

States Billed $1.3
Billion in Interest Amid Tight Budgets

Invasion of
Privacy: Photos of the Facebook CEO's New House

Natural-Gas
Vehicles On The Road To Acceptance

Making Money on
Food & Energy Inflation: Pros

NFL Playoff
Strategy From Giants' Justin Tuck

The Foreclosure
Dump

LATEST FROM OUR BLOGS

» More

Current DateTime: 10:12:07 15 Jan
2011
LinksList Documentid: 23452000
Expiration DateTime: 1/15/2011
10:15:40 PM

Do Celebrity Endorsements
Really Work?

Gearing up for the
Globes: The Race to Oscar

Are You Ready for
the Wallets to Snap Shut?

Dazed and Confused
on a Friday

Long Fight Ahead
in Community Health Systems' Bid for Tenet

Can Google Survive
the Internet?

New Books on the
Internet's Dark Side

Last Year's
Laggards Will Be Next Big Winners: Stock Pickers

Five Stocks With
Bullish Momentum

Can Anyone Fix BP?
New Book Casts Doubt

TOP HEADLINES

» Markets | Economy | Companies

Current DateTime: 10:12:07 15 Jan
2011
LinksList Documentid: 23452764
Expiration DateTime: 1/15/2011
10:15:24 PM

States Billed $1.3 Billion in
Interest Amid Tight Budgets

Earnings in Full
Swing; Investors Watch for Pull Back

Greece Should
Restructure Debt: Slovak Finance Minister

BP Unveils Major
Share Swap With Russian Rosneft

AIG CEO: It May
Take 18 Months to Shed US Stake

Cramer's Guide for
Next Week's Earnings

Pro Traders:
Growing Indications Market Is Tired

If Stocks Drift
During Earnings, What's the Trade?

Money Manager
Arrested Over Threats to Kill 47 Officials

Sure, the House Is
Cheap, But Is It Actually a Bargain?

RSS
FEED

» Help

Current DateTime: 10:12:07 15 Jan
2011
LinksList Documentid: 31373452
Expiration DateTime: 1/15/2011
10:15:52 PM

Subscribe to
this RSS feed

Stay up to date with
the Pony Blog.

Housing Market Slips Into Depression Territory

Published: Tuesday,
11 Jan 2011 | 10:52 AM ET

Text Size

By: Cindy Perman
CNBC.com
Staff Writer

Twitter

LinkedIn

More Share

As the economy revs back to life,
with signs of hiring on the horizon,
the housing market is being left behind like Macaulay Culkin in “Home
Alone.”

AP

Macaulay Culkin

In the past few years, we’ve all been careful to
choose our words carefully, not calling it a recession until it fit the
technical definition and avoiding any inappropriate use of the “D” word —
Depression.

Things were bad but the broader
economy never reached Depression territory. The housing market, on the other
hand, just crossed that threshold.

Home values have fallen 26 percent since their
peak in June 2006, worse than the 25.9-percent decline seen during the
Depression years between 1928 and 1933, Zillow reported.

November marked the
53rd consecutive month (4 ½ years) that home values have fallen.

What’s worse, it’s not over yet:
Home values are expected to continue to slide as inventories pile up, and likely
won't recover until the job market improves.

And while the president is
physically protected in an emergency, whisked to a bunker at an undisclosed
location, the actual White House is not: The value of 1600 Pennsylvania Avenue has
dropped by $80 million, or nearly 25 percent since the peak of the housing boom.
It’s current value is $251.6 million, according to Zillow, down from $331.5
million.

Oh-h say can you see … by the
dawn’s ear-ly light …

GE

loading...

Quote  |  Chart  |  News  |  Profile

[GE  Loading...      ()
]

More on the
Economy:

11 Signs the Job
Market Is Improving

The 10 Jobs Most In Demand in
2011

The Best US Cities for Starter
Homes

Best Mobile Apps to Help You
Keep Your Financial Resolutions

Questions?
Comments? Email

or drop a line in the comment box below.

More from The Pony
Blog: ponyblog.cnbc.com

© 2011 CNBC.com

Topics:Housing | Real Estate |
Debt | Technology | Information
Technology | Personal
Finance | Media | Small
Business | Consumers | Internet | Employment | Recession | Economy
(U.S.)

Companies:General
Electric | Google
Inc

PrintEmail

Twitter

LinkedIn

More Share

POPULAR PONY BLOG
POSTS

Housing Market Slips Into Depression
Territory

11 Signs the Job Market Is Improving
in 2011

Viral Video Star Has ‘Golden Voice,’
20-Year Criminal
Record

COMMENTS

More Comments

« First | « Previous

Next » | Last »

Thank you for joining our discussion.
Your comment has been posted.

ADD COMMENTS

Please
Sign In or Register to
participate.

In
order to add a comment you must click here and accept our terms and
conditions.

Edit Screen
Name

Please sign-in/optin or register to be able to submit comments.

Remaining characters

CNBC welcomes your
contribution. Please respect our community and the integrity of its
participants. CNBC reserves the right to moderate and approve your comment.

Sorry, we are no longer accepting comments.

PREVIEW COMMENT

Your comments
have not been posted yet.
Please review your submission to make sure
you are comfortable with your entry.

Your Comments:

U.S.

Asia-Pacific

Europe

Economy

Energy

Green

Technology

Blogs

Wires

Slideshows

Special
Reports

Corrections

Markets
Front

Pre-Markets

World
Markets

Latin America

Stocks

Dow
30

Commodities

Currencies

Bonds

Funds

Earnings
Front

News

Calendar

Surprises

Highlights

Ideas

Stock
Blog

Personal
Finance

Portfolio (Beta)

Watchlist

Stock
Screener

Fund
Screener

Earnings
Screener

Latest
Video

Top
Video

US
Video

Europe
Video

Asia
Video

CEO
Interviews

Analyst
Interviews

CNBC
PRO

CNBC
U.S.

CNBC Asia
Pacific

CNBC
Europe

CNBC
World

CNBC
HD+

Apps

CNBC
Plus

CNBC
PRO

CNBC TV

DVDs

Merchandise

Mobile

Podcasts

Radio

Widgets

Current DateTime: 03:49:01 15 Jan
2011
LinksList Documentid: 29778429

CNBC NEWS

U.S. News

Asia-Pacific News

Europe News

Economy

Energy

Green

Technology

Blogs

Wires

Slideshows

Special Reports

Corrections

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29778428

MARKETS

Pre-Markets

World Markets

Stocks

Dow 30

Commodities

Currencies

Bonds

Funds

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29779196

EARNINGS

News

Calendar

Surprises

Highlights

Ideas

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29779197

INVESTING

Stock Blog

Personal Finance

Portfolio (Beta)

Watchlist

Stock Screener

Fund Screener

Earnings
Screener

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29779200

VIDEO

Latest
Video

Top
Video

U.S.
Video

Asia-Pacific
Video

Europe
Video

CEO
Interviews

Analyst
Interviews

CNBC Pro

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29779199

CNBC TV

CNBC U.S.

CNBC Asia-Pacific

CNBC Europe

CNBC World

CNBC HD+

As Seen On...

Channel Finder

Current DateTime: 01:01:48 15 Jan
2011
LinksList Documentid: 29779198

MORE

CNBC 360

CNBC Mobile Website

RSS

Real-Time Quotes and Extended
Hours

Latest Press
Releases

About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners:
DailyFinance.com  |  Walletpop.com

Data is a real-time snapshot  *Data is delayed at
least 15 minutes
Global Business and Financial News, Stock Quotes, and Market
Data and Analysis

© 2011 CNBC, Inc.  All Rights Reserved.
A
Division of NBC Universal