There seems to be not end to decline house prices. The S&P/Case-Shiller shows almost 16% decline in prices from last year.. From CNNMoney.com…

“May home prices dropped a record 15.8% from a year ago, according to the S&P/Case-Shiller Home Price Index of 20 cities. It was the 22nd consecutive month of decline recorded by the index. Prices fell 0.9% from April to May.

Each of the 20 metro areas covered by the index posted annual declines; nine posted record lows and 10 cities recorded double-digit drops.”