House prices in the US are at low levels not seen since August 2004, according to the latest research.

Standard & Poor's/Case-Shiller home price index shows that all 20 metropolitan areas analyzed in the study posted year-on-year price decreases for the first time since the barometer was introduced eight years ago.

The survey indicates that property fees in April were 15.3 percent down when compared to the same month in 2007.

Las Vegas and Miami recorded the most severe falls, with property in these large US cities falling in value by 26.8 percent and 26.7 percent respectively.

Lower house prices are indicative of the economy as a whole, which sees a number of Americans struggling to pay for everyday goods. Taking out a pay day loan may be an option for those who have important items to pay for before their next paycheck but do not have the cash to hand.

Website bestsyndication.com claimed last week that this type of loan provides a "simple way" of overcoming difficult financial situations.

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