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United States Ranked 7th Worst Housing Market in the World

Business Insider has taken a look at some recent data compiled by multinational real estate firm Knight Frank about just how bad the world's housing markets are. And boy, are these ugly numbers! The United States ranks the 7th worst, with prices down 4.1 percent since last year; it's faring better than Greece, Dubai, Croatia, Ukraine, Lithuania, and Ireland, whose 10.8 percent decline in home values and abysmal banking system make it a shoo-in for worst. But the findings represent a very specific set of data that don't take into consideration other factors, of course. Says one commenter, "I'll take living in Croatia over Phoenix, Arizona any day of the week." Now that's what we call perspective!

· The 11 Worst Housing Markets in the World [Business Insider via Real Deal]