Housing Prices Plummeting in Korea

The Korean Housing Institute claims that housing prices are more inflated in Korea than they've ever been in the States, and prices have begun to fall precipitously.

The Korea Times reports: "House prices in Seoul dipped 1.07 percent during the first six months of the year compared to the second-half of 2009, declining for 19th straight weeks and counting, with the falls sharper in previously hot districts such as Songpa, Dobong, Gangbuk and Nowon."

Sales of residential properties is also down about a third, causing a glut of housing on the market.

Full Story: Can Korea prevent housing bubble from bursting?

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