The Home Equity Lost could take up to 10 Years to Recover »
Posted By altnrg 10 months, 3 weeks ago in NewsWhen a foreclosed home or short-sale is sold in any neighborhood, a long term investment, school fund, or retirement plan hangs in the balance. You can stimulate the market and short-sale banks until the end the time, but how do you recover lost equity?
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Wolfster10 months, 3 weeks ago
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This was not real equity. It is fake, ghost equity. It never really existed. The 50% drop is the same ridiculous 50% gain that happened over the 3 years before. Greedy speculators sold to each other and propped up the outlandish prices. Now people who couldn't have afforded houses in a normal market are losing them and going back to renting. People who were too smart to dive into the fake money pool can now afford to buy houses that are once again nearing realiztic prices. And in ten years, houses will appreciate at a normal rate, going up in tandem with incomes and not on some hell-bent rocket-ride; which is as they should do.
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