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From: SouthFloridaGuy	9/26/2007 9:47:39 AM
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Some quick math on how the wealth affect could potentially affect many homeowners: Family Member real-life example: Bought house 1998 - $215k Sold house 2005 - $475k Used ~$250k in equity to make downpayment on $700k house. $700k house has fair value of $450k best case for 2008. Loss in equity = -250k. Net Gain over 10 years = $0 assuming no transaction costs. This is the story of many who took equity and sized up during the boom. If the family member had remained in the same house, the loss in equity would be about $165k (and no transaction costs) giving a net gain 85k over 10 years...

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