Quote:
Originally Posted by Gifted Fish
Seems that the market is dropping much faster than the article contends. Prices in Vegas are down around 20% in the last year, and the house I sold in California 2 years ago has a valuation on zillow.com (which I know is a very rough measurement tool) of $150,000 less than the price I sold it for. So if a painful "ripping off the band aid" fix is best for everyone, I think the pain is coming faster than some think.
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Be careful not to extrapolate two of the worst bubble housing markets to the rest of the country.