Davos is a local who writes for the financial blog Chris Martenson, and has passed along some information that may be helpful to those dealing with the current financial climate.
When the real estate battle erupted, he wrote:
The Housing market took quite the hit in 2008: "The U.S. housing market lost $3.3 trillion in value last year and almost one in six owners with mortgages owed more than their homes were worth as the economy went into recession, Zillow.com said.He is sending over some YouTube videos that I will post later. My thanks to Davos and everyone else for their help.
"The median estimated home price declined 11.6 percent in 2008 to $192,119 and homeowners lost $1.4 trillion in value in the fourth quarter alone, the Seattle-based real estate data service said in a report today.
"About $6.1 trillion of value has been lost since the housing market peaked in the second quarter of 2006 and last year's decline was almost triple the $1.3 trillion lost in 2007, Zillow said. 'Funny, I kept hearing that prices never go down in real Estate.' "