I’ve got a Minneapolis area home I’ll gladly sell you for much more than it’s worth, but exactly what I paid…
It’s not good. If there has ever been a buyers market, it’s right now. Of course, I’m one of the idiots who bought at the height of the market. At the time, if I hadn’t bought, I wouldn’t have gotten a house. Looking back, I wish I’d been a month too late to the table and been denied credit just to save me the hassle of owning a house in the worst economy since the 30s.
If I could afford to lose $60k, I’d certainly sell today. But, obviously, I can’t do that.
I know that we were one of the worst hit in terms of lost property value (nothing like Arizona or Vegas though). I’ve only lost 22% (only!) and I’m sure there are others who’ve lost much much more.