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<p>[QUOTE="doug444, post: 1616106, member: 38849"]"...but probably doesn't affect most homeowners."</p><p><br /></p><p>Sorry, Cloud, but you are <b>100%</b> wrong. The HOUSE is the primary asset of the middle class. Even the (most optimistic) decline of 10% amounts to thousands of dollars vaporized from your net worth and your retirement resources. In some cities like Boston, Phoenix, and Las Vegas, the average loss was more like 30%.</p><p><br /></p><p>Why do you think the rental market is exploding? Because the houses are foreclosed and sold (or sitting vacant), and the only thing the ex-homeowner can afford is an apartment. And that LOSS will NEVER be recovered.[/QUOTE]</p><p><br /></p>
[QUOTE="doug444, post: 1616106, member: 38849"]"...but probably doesn't affect most homeowners." Sorry, Cloud, but you are [B]100%[/B] wrong. The HOUSE is the primary asset of the middle class. Even the (most optimistic) decline of 10% amounts to thousands of dollars vaporized from your net worth and your retirement resources. In some cities like Boston, Phoenix, and Las Vegas, the average loss was more like 30%. Why do you think the rental market is exploding? Because the houses are foreclosed and sold (or sitting vacant), and the only thing the ex-homeowner can afford is an apartment. And that LOSS will NEVER be recovered.[/QUOTE]
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