Homeowners Minus 50DKP!
 

"Homeowners' percentage of equity slipped to a revised lower 49.6 percent in the second quarter of 2007, according to the Federal Reserve's quarterly U.S. Flow of Funds Accounts, and declined further to 47.9 percent in the fourth quarter — the third straight quarter it was under 50 percent."
http://www.msnbc.msn.com/id/23489087/page/2/

Holy shit...
Losing 50% of your investment on top of over paying for it.

I know my house is worth less now than when I bought it but at least it's paid off.
50 percent loss in equity, thats insane.

Is it a good time to buy?

No don't buy yet it will drop 20-30 % more in the next 8-12 months...

If it drops another 20% or more, things will never be the same again. It HAS to pick up soon, i think it's a good time to buy - if you do plenty of homework of course!

I know home prices are dropping like panties on prom night right now, just wondering how much lower could it possibly go.

And damn I really can't imagine over paying for a home at the peak of the Real Estate Era then fucking having it go to complete shit as an investment on top of an over priced mortgage its really pretty fucked for alot of people.

Seriously fucked.
Most may never break even and the ones that do over paid in the first place.
After the Bank Interest rates over 20 years just tack on another 75K to the 600K home...

I am seriously starting to believe it.
I didnt expect more than a 30% drop when all the shit came crashing down.
Damn I was wrong.

Dude down here in Florida you can get a brand new 3000 sq ft house built with pool for 215k out the door. If you in the market for a new house this is the time. Me and the family have been going house hunting every weekend for the last 6 months just looking and waiting to pounce. Every week the prices keep getting better and better. But my guy keeps telling me wait wait. That same house i am referring to above was $287k in mid December. But if you buy this same house from there inventory now they are offering it for $198k if you sign the papers in the next week...

Dude-this is the 1929 of real estate.

When it hits bottom you'll know it.

We are not even close yet.

Wait until all the people in the upscale far flung suburbs start trying to commute in SUV's with 6 dollar a gallon gas.

That's a drop in equity not home value, big difference.

Fuck, bought some shares yesterday...

A lady friend bought a house about ten years ago for 140 thousand. About two years ago it was worth about 360 thousand. Her job took her to another city so she sold the house for 260 thousand (the current market value) and feels as if she lost money when in fact she made 120 thousand.

You are correct.

The same is happening i Europe... The last years have seen amazing growth in the real estate market, but prices are falling all over now...