[ex-Texan]

The report gives on example of a D.C. area house falling $ 100,000 in value:

Lynn Edmonds and his wife, Sebnem, could barely wait to sign on the dotted line back in May when they committed themselves to pay $796,000 for a three-floor townhouse under construction in Alexandria's Cameron Station.

But since May, the sales prices for the development have fallen -- and units like the one the Edmonds bought are now being sold for $699,900. The Edmonds are facing the prospect of a $100,000 loss in value before they even walk through the front door.

That is a 12.5% loss in one month! And it will get much worse.

Where are all the FR naysayers today? Come out, come out, wherever you are!

[montag813]

The Edmonds are facing the prospect of a $100,000 loss in value before they even walk through the front door.

The Edmonds overpaid. Like my new neighbor did. He bought a NYC condo for 1.61 million which 6 months later is worth $200k less. Of couse 2 years from now it will likely be worth $1.8.

[rodguy911]

Depends a lot where you live. Last year property went up 42% down here and has not stopped so far this year.It does take longer to sell a property though.