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<p>[QUOTE=&quot;mikem2000, post: 1616565, member: 30574&quot;]Well if you want to look at the glass as half empty, but the truth is the pendulum had swung too far (as it always does) and home values were overpriced.&nbsp; The &quot;profits&quot; that homeowners experienced could not be sustained. Since you cannot simply sell your primary residence like a stock to lock in profits from an inefficient market, you really could not count the equity increase, as a true increase of wealth.&nbsp; The market had to correct, just has tech stocks did when the NAS was at 5000 and just as silver did a little while back when it was closing in on $50.&nbsp; That is just the way things work.</p><p><br /></p><p>My price tag on my home may has went down 80 - 100 grand, but I still own one home, nothing has changed and even though I will receive less cash if I sell, the replacement residence will cost less also, so it all works out in the wash. Of course you can always find some exceptions, but in my opinion I have lost no true wealth.&nbsp; I still have the same amount of &quot;STUFF&quot;</p><p><br /></p><p>Now certainly I feel for the folks who got caught on the wrong side of the crap storm, but these folks did not lose their houses because the price fell, the payments stayed the same, it was other factors such as loss of job, cuts in salary, etc or in some cases irresponsibility, that caused these folks to not be able to make their payments. They may have been victims of a bad economy, but the drop in real estate is not what got them.</p><p><br /></p><p>Now I look at these lower prices as a good thing.&nbsp; Think of all the young folks who can now afford to buy a home where they had no chance before.&nbsp; These new young homeowners will now become some of the building blocks for the recovering economy.&nbsp; They will be purchasing furniture, appliances, home improvements etc., which will be injecting money right into the economy.&nbsp; The result will be what we need most, MORE JOBS[/QUOTE]</p><p><br /></p>

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