Home prices across the U.S. recorded their biggest drop in 11 years by as much as 10 per cent, leaving hundreds of thousands of borrowers at risk of going underwater — and those who bought along the West Coast worst hit.Mortgage analytics firm Black Knight a nationwide 0.77 percent drop in median home values between June and July, the biggest month-over-month drop since January 2011 in its latest monthly mortgage report this week.More than 85 percent of America’s biggest property markets are at least slightly off their peaks, and more than one in ten — mostly along the West Coast — are seeing prices drop by 4 percent or more.
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