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The analogy is similar re: stock. Is your $25 citigroup stock really worth selling @ $3? Most likely those people sold at .60 cents. Most people who are losi
by jeffepp 16y ago
The analogy is similar re: stock. Is your $25 citigroup stock really worth selling @ $3?
Most likely those people sold at .60 cents.
Most people who are losing money in real estate were also selling stocks at the bottom (2 years ago) and were buying tech stocks with two hands in 1999.
- true_religion 16y ago> Most people who are losing money in real estate ... Many people are losing money simply by having the value of their houses fall. They don't want to sell, but their so called "investment" is worth half the price today on the open market than it was when they bought it. Realistically, they may never recover the value they spent in their lifetimes.
- jeffepp 16y agoTrue for people who purchased in the last 3-4 years in Florida, Cali, Nevada and a few other places. Last 10 years in Michigan.