Originally Posted by Rochard

Multiple reasons.

I bought a large model home at the peak of the market. In fact, a bidding war broke out over the house and I paid above market prices. The house I bought was in a town that was growing rapidly; In fact, we were the fasted growing city in the country from 2000 to 2008, growing some 240%. My community was hit hard by the recession. Not only did we have a lot brand new houses that never sold, because of all of the recent building we had a lot of bad loans. On the day Obama took office, we walked our street and exactly half of the houses on my block were empty.

I just checked Zillow and while I understand Zillow is hardly accurate, we are almost breaking even. It doesn't matter much - we love our house and our community and have no plans on leaving. This is our forever house.

My wife and I also own other property as well.