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Conventional wisdom says most consumers are badly rattled by the steep decline in house prices. Polling data casts doubt on this notion, though, as it finds large numbers of Americans refusing to believe that home prices in their own locale really have fallen. A poll last month by the Pew Research Center for the People & the Press is typical in this respect.
Just over half the respondents said home prices in their own area have gone down either a little (32 percent) or a lot (24 percent) in the past year.
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