[staytrue]

Most people do not own 224,000 dollars worth of stocks which is the median price of a home.

Down 1.2 percent is more like down 3 percent if you add in inflation which on 224,000 is a 7,500 dollar loss.

[Pelham]

Depends on where you live, of course. The median price of a house in southern CA is more like $600,000.

[babygene]

"Most people do not own 224,000 dollars worth of stocks which is the median price of a home."

Most people don't "own" $224K equity in there median price home either. Nor do they "owe" $224K, since the price went up since the purchase much more than the $7K since they bought it.

Just as with stocks, only those who bought at the peak will be affected.