We all know that  real estate market is soft…experiencing  unprecedented reductions in value, but how soft? How deep is the decline in value in real dollars and percentage. Here is a chart that is statistically as accurate as it gets, pulled from my favorite blog:
Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com

Check it out, its through January and therefor it is therefore worse now in  April and will continue to decline further as the year progresses. It is clear that the Northeast and other specific cities  seems to be doing better then other area of the country but I suspect the recession will catch up and further softening and deeper declines will occur in these regions and cities as well. No city is going to avoid this decline. We see it as deep as 45% in Nevada and as little as 11% in Charlotte. I will deepen everywhere.

This is reality, along with another sobering bit of information, that if calculated including those who have left the job searching market all together, our real unemployment rate is 15% and climbing. It will reach a 20% rate.

This is the bad news.

The good news, if you follow the program outlined in our small business bail out plan,  see various posts in this blog, you will survive and flourish despite the burn down of our economy.

Despite he continued negative effects of the economic meltdown, small business owners need not be a casualty if they follow an effective pro-active plan.

20 city composites peaked in a June-July 2006 time frame.

Case-Shiller Declines Since Peak Current Data