rkuchinsky wrote:Your house is 22% less than what? I bought 7 or so years ago and can likely sell for more than 225% of what I bought for. Is it that much different south of the border?
Is it an urban vs. suburban thing? East. Vs. west? Us vs. Canada in total? I'm totally boggeled!
22% less than what I owe, essentially. If I sell today, I'd be out close to $30k. And 7 years ago, is much different than 5 years ago. But, yes it is much different south of the border. Canada did not see nearly the financial collapse that the US did.
So I live in Minneapolis, upper Midwest. Us, Chicagoland, Milwaukee, Detroit (for several reasons) all had huge drops in home values. Depending on when you entered the market, you stand to lose a considerable amount of money. Or, you'll make some but not nearly what you should.
The West Coast, California in particular was hit the hardest. Something like 66% value lost in some areas. But, the amount you lose or gain all depends on when you bought. If you bought a home in Las Vegas in 1985, you could probably sell today and make a good amount of money. But, if you sold 6 years ago? You'd probably have made double.