How many thousands of $$ did you lose this year?

U376977 · #1 11-20-2008, 09:09 PM

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.

rgcraig · #2 11-20-2008, 09:12 PM

40K in my 401(k) -- hoping that it will gain back to where it was in Sept.

Cindy · #3 11-20-2008, 09:12 PM

House and land are free and clear. But we gripe about paying school taxes since we have no kids in school.

freeatlast · #4 11-20-2008, 09:19 PM

@ 50 k this year in my 401 and that is not counting what my wifes lost. It's sickening

Digging4Truth · #5 11-20-2008, 10:28 PM

My wife and I felt led to pull all of my 401k out of the stock market early in the year and my 401k is not growing fast... but I have lost no money. I have experienced a growth this year.

We felt led a few years ago to search for a home with land for an unbelievable price. Nearly 2 years of searching and we found it.

We bought a house & acreage for $10,000 and paid cash by refinancing our vehicle for cash out added to what we had saved up while we were looking. We own it free and clear. It would probably appraise for $50,000 or so.

We sold our house that we had owned previously and walked away with $9k above payoff & closing fees.

We have felt some definite leadings over the last few years and we have followed them. Those leadings have protected us from the losses many have suffered.

For that I am thankful to the one who led.

RevDWW · #6 11-20-2008, 10:39 PM

Technically you don't "lose it" till you sell the stock. Hold on to your shares and pray they rise in value........the old saying "Buy low, sell high" might be good to follow after the market hits bottom..........

Neck · #7 11-20-2008, 10:45 PM

Quote:

Originally Posted by U376977

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.

I am 44 and lost 73k in equity in my house.

My 401K and retirement account have lost 125K.

At the average the DOW normally increases.

I will be back to even in 12 years.

But at a diifferent cost of money...

Neck · #8 11-20-2008, 10:46 PM

Quote:

Originally Posted by RevDWW

Technically you don't "lose it" till you sell the stock. Hold on to your shares and pray they rise in value........the old saying "Buy low, sell high" might be good to follow after the market hits bottom..........

If you have an event that requires you spend the money today you have lost money.

Your statement is your networth.

Your networth is not calculated in number of shares/

Neck

Hoovie · #9 11-20-2008, 10:58 PM

Therefore they shall be as the morning cloud and as the early dew that passeth away, as the chaff that is driven with the whirlwind out of the floor, and as the smoke out of the chimney.

I guess I lost a few thousand in investments/IRAs and I am not sure on the houses.

Sam · #10 11-20-2008, 11:40 PM

Our house is paid off. We purchased it for $39,900 in 1977. The last evaluation for tax purposes set it at $130,280. However, since we purchased it our city of 19000 plus has become predominantly African American. The house next door to us is valued at $138,100 for tax purposes. It sold 3/5/2001 for $128,000. Then it sold 10/17/06 for $130,000 when the young couple were transferred out of state. It sold again 8/1/2008 for $93,212. And then just sold again on 11/12/2008 for $69,000. Usually houses don't sell very quickly here since the market is limited pretty much by race. The local newspaper records real estate transactions and it is very discouraging to see houses all around us selling for half their appraised value.

My wife and I live on a small pension from General Electric plus Social Security. We see our income remain static while prices rise continually. As far as money in our 401K, we had to make a withdrawal this year because I will be 71 by the end of the year. We will be forced to withdraw every year so the government can tax us. Otherwise, we just leave it alone. It shrinks in value from day to day and hour to hour.