How much value did Americans Lose in Real Estate in 2008?
According to Zillow, Americans lost $3.3 trillion dollars in Real Estate Value in 2008, and $6.1 trillion since the peak in 2006.
Between that and the stock market, it’s no wonder folks are feeling a little less flush.
The declines mean that U.S. homeowners lost a cumulative $3.3 trillion(3) in home values during 2008, with much of that loss coming in the fourth quarter. Homeowners lost $1.4 trillion during the fourth quarter alone; more than the $1.3 trillion lost during all of 2007. Since the housing market’s peak in 2006, $6.1 trillion in home values have been lost. – Zillow
The article goes further to mention that the losses in the last quarter of 2008 were greater than for all of 2007 and the rate of loss is accelerating. Seattle got a mention as a metropolitan area that experienced a decline larger than the national median a 12.1% median home value decline in the 4th quarter.
Just keeping a little national perspective in the mix during one of our beautiful sunny days in the Lake Chelan Valley!
Discussion Area - Leave a Comment
You must be logged in to post a comment.