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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (17317)	2/14/2004 1:30:35 PM
From: Tommaso	Read Replies (2) \| Respond to of 306849

So if home prices on average were to decline by 25%, a very large portion of the home-owning population would lose all or most of their equity in their homes. An entirely possible, even likely, outcome. The house I live in was owned for some years in the 1930s by an insurance company, as a result of a foreclosure on a mortgage. My parents bought a house--really two houses--in 1947 for a good deal less than half the cost of their construction in 1927. Since 1947 they have appreciated from $23,000 to about $1,500,000. My mother sold at $108,000, I am sorry to say. I sure wish I could buy a newspaper dated five years in the future from today!