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Over the next few years, if the fall in prices and rise in yields continues at a much slower pace, Mr. Gross thinks his Total Return fund can still earn about 5percentt a year -- resulting from the fund's expected average yield of 6percentt and a price decline of about 1percentt a year.
The loans are accounted for as a price decline.
Only Las Vegas recorded a price decline, for a record low in May.
They say this is good management and smart protection against a price decline.
Still, waiting until next month to cut production risks the possibility of a price decline if OPEC members do not stick to their own quotas.
Alternatively, if house prices instead remain constant and rents grow at their average pace of 4% a year, the ratio would revert to its long-term average by the end of 2005, with no need for a price decline.
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People can track the prices of certain items, receive alerts when a price declines past a certain threshold and get recommendations on where to buy items for the lowest price.
"Places like Detroit or Flint didn't even have a housing boom," says Fleming, so even a small price decline could create a negative-equity situation.
That decision turned a gradual price decline into a free fall.
A stock price decline and a widening of interest rate spreads also eroded the effect of past rate cuts, the minutes said.
They won't default, and they won't suffer a noticeable price decline in a time of rising interest rates.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com