News analysis: Why prices are slippery on the way down

Home prices within California's Los Angeles and Oxnard MSAs fall at different rates between September '06 and mid-year 2007.

It used to be that when real estate markets went south, they did so in a somewhat leisurely fashion. Buyers stopped buying and builders stopped building, but prices would stagnate or get a little soft -- not plummet overnight like the stock of some corporation that's been flown into the side of a mountain.

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