First Annual Home Price Drop Ever

They said we couldn't do it. All those Realtors, and real estate agents brokers. They said there had never been a down year in housing prices, and therefore implied there never would be. Everyone know home prices only go up. Except for the '89-'94 bubble pop. And the '79-'80 bubble pop. And all those other bubble pops.

But now it's happened. Check out this article on CNN/Money: Homes See First Annual Price Drop on Record - Jan24, 2008.

I wonder what they say about people walking away from their terrible mortgages? Surely people will keep dumping money into a black hole. Won't they? Wouldn't you?