In a conference of US Mayors, experts said that in last 16 years this is the worst housing downturn. They have estimated that during the next year this will lead to the decline of property value by $1.2 trillion and will cut down tax revenue by more than $6.6 billion.
It was said that the California would suffer the hardest, as decrease in property value here will be around $630.6 billion. They also said that the New York City might face the utmost slowdo...
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