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How many thousands of $$ did you lose this year?
Recent release of the CS index of 20 MSA's the median price of homes fell by 9%. That means that the median home lost $833 in equity per month on a 100,000 home. Average home price in GA was about $250K, they lost about $2000 per month or $24,000 in equity over the year. And since 9% was the "median" price decline--half of the people lost > 9% and half by a lesser amount. In short,....trillions of $$ were lost to the economy and will take years (if ever) to come back.
Obama has a colossal mess on his hands! But no answers.
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