US house prices fall at record rate - papers 27 Dec

The Standard & Poor's/Case-Shiller index of 10 metropolitan areas fell 6.7% compared to October 2006, a record decline. The previous biggest fall was a 6.3% drop recorded in April 1991 just after the recession of the early 1990s. "No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim," said Robert Shiller, chief economist at MacroMarkets. US INVESTOR WARREN Buffett has rebuffed approaches from at least one bank looking for financial assistance to help it through the credit crunch,” according to The Guardian. Buffett, ...