US home prices down 16% in August

(02:04) Report

Oct 28 - Prices of US single family homes plunged more than 16 percent in August, according to a report by Standard & Poors/Case Shiller.

Prices on single family homes continue to plunge, and consumer confidence is at all time lows. For many Americans, their dream homes have become nightmare investments.

Bobbi Rebell reports.

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