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And regardless of how amusing Jack thinks the statement is, the value of your home will eventually rebound.


There's every chance that won't happen in our lifetimes, and even if the appraisal improves over the next ten years or so, it may be with dollars so inflated as to render the property worth much less in real terms than it is today. What I found humorous is that many folks (especially Obama) are saying this about practically everything.

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The market got overly heated for a bit there and needed this 'adjustment' to get things back to normal.


In fact, the market has been overheated for many years, and what we're seeing is not merely a correction that will soon resume its upward trend. Rather, it is a correction on the heels of a downward trend, and that trend would have been visible and obvious at least ten years ago if not for credit policies that conveyed loans to ever-less-qualified borrowers.

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Hang in there and just keep doing what you are doing.


I agree with this, but no one should think residential property (with extremely rare exceptions) is still an investment in the future. It is now merely an expenditure, and the reasons for buying and paying off must be considered in that light.



Thanks, Jack for making me feel better. Now that I'm a homeowner, I will not have equity for many years, if ever, and will be stuck in the first house I ever bought for years and years to come because of bad timing. I'm going to go out back now and shoot myself!

06 America 904