The JPMorgan report included a revised bleaker forecast for subprime-related home prices. The bank now sees prices falling 30 percent, from its prior 25 percent forecast. Those prices have declined 14 percent since mid-2006, JPMorgan said.Is JPMorgan just talking about price declines for houses purchased with subprime loans? Or is the Reuters story adding "subprime" to the story line?
Note: Case-Shiller shows national prices have declined 10.1% through Q4 2007, so my guess is the JPMorgan estimate is for all houses and includes the decline through the beginning of March 2008.