Larger homes and condos are taking the greatest value hits, when compared to smaller homes, as the overall decline of home values is impacting consumer spending — a bellwether of economic health. The largest homes those 1,900 square feet lost 2.8 percent of their value and the smallest homes, those with less than 1,200 square feet, typically the most affordable and now likely the most sought after, lost only 1 percent. Condo values, victims of speculation and over building, dropped an average 5.2 percent since the second quarter last year. Refi Bust: Mortgage Brokers Gone Wild!

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