Zillow: U.S. Home Prices Will Lose $1.7 Trillion This Year

First Case-Shiller called a double dip in home prices.

Then Roubini said that the United States “real estate market, for sure, is double dipping”, and and predicted that banks could face another $1 trillion in housing-related losses.

Now Zillow is forecasting that U.S. home values are poised to drop by more than $1.7 trillion this year.

I’m not sure what the exact numbers are, but this looks like it’s going to be grim.

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