Housing Market to Shed $1.7 Trillion in 2010

The housing market has had a bad year, but who knew it was this bad? By the time 2010 comes to a close, homes in the U.S. will have shed a total of $1.7 trillion in value, according to a study from Zillow.com. In 2009, the housing market lost a mere $1 trillion, making this year's decline more than 50% worse. In total, home values have declined a whopping $9 trillion since the market peaked in June 2006.