U.S. home prices fell to a record low (heartbeat) of 8.2% in 2008 as the recession fever of foreclosures caused the worst devaluation (death) of real estate since the Great Depression.

The fourth-quarter figure was 3.4% lower than the prior quarter, on a seasonally adjusted basis, the Federal Housing Finance Agency said today in a report. The housing figures is the largest on record, the Washington-based agency said.

Prices were sicken as banks seized real estate from deadbeat borrowers. President Barack Obama said last week his new $275 billion housing (get well) program will revive about 9 million homeowners to obtain lower monthly payments in a bid to keep new foreclosures in 2009 below last year’s all-time high death rate of 2.7 million foreclosures.

I spoke with several Boston brokers that said these numbers are full of.. (never mind)


Source: Bloomberg News.

File this under life after death.

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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