Home Prices Hit Four-Year Low

Business Week reports:

Peter Schiff, president of Darien (Conn.) brokerage Euro Pacific Capital, said prices could slide to levels last seen before the housing boom began in the early 2000s.

"Demand is way below where it was eight years ago; supply is way above," Schiff said. "Why should prices be substantially higher than they were in 2000? The Dow isn't where it was in 2000. Stocks are worth less than they were. Why should real estate stand out as worth more?"