(RECAP: Home prices continued their steady ascent in July but there’s no reason to believe a collapse in prices is on the horizon, according to S&P/Case-Shiller. On a national basis, single-family home prices rose by 5.1% in July, according to the S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions. Home prices have risen by about 5% annually for the last two years and are approaching the record highs seen before the financial crisis. In seven out of 20 major cities, houses are more expensive than ever. As housing prices have soared, the amount people are borrowing hasn’t swelled nearly as much as it did before the financial crisis. Currently, outstanding mortgage debt on family homes for four people or less is 13% below the peak in 2008.)