DISQUS

Jonathan · 2 years ago

Flexo,

Keep in mind that the 2% decrease in residential property values is a nationwide average, largely skewed by a select few regions of the country that had previously seen unsustainable price appreciation, and now are pulling back severely. The West Coast, Arizona, Nevada, and Florida are a few good examples.

Then there are those of us who live in the midwest, who "missed out" on the housing boom, having seen only 3-4% appreciation consistently over the past 20 years. So frankly I am not that concerned about the 10% price drop of homes in Las Vegas, or the 15% decline of condos in Miami.

The 2% nationwide price decline couldn't mean less to those of us who didn't get into an icy "hot" market to begin with.

Chris · 2 years ago

In my area prices have been more or less stable, and my own home has gone up in "value" $10k since we bought it 1 1/2 years ago. I'd prefer it not, since that just means I have to pay more taxes. There are a lot of houses for sale in my area though, and it doesn't look like many are selling.

Danny at Money Socket · 2 years ago

This is human nature at work. If you own the home you're living in, you won't admit that property values are going down the drain. Not to mention this was a poll, and homeowners don't want to scare potential buyers more than the media already has, causing more problems for future sellers. The reality is in most places sellers are in trouble, including myself. I wrote a post about my last investment property, which I stand to lose about 50K when I sell it in a few months. Thats the reality.