U.S. housing value down at least $4 trillion

Philadelphia Inquirer ^ | 9/5/10 | Alan J. Heavens

[Nachum]

If you've recently had your house reappraised for sale or refinancing, and wonder where the equity went, consider this:Since the real estate boom ground to a painful close about 31/2 years ago, the nation's housing stock has shed from about $4 trillion to $7.1 trillion in value.The amount depends on who's counting. A study by Equifax Inc. and Moody's Analytics Inc. says the downturn began in early 2007 and cost $4 trillion through March. The Federal Reserve says the downturn began in the fourth quarter of 2006 and cost $7.1 trillion through March.

[Diana in Wisconsin]

“Just a fraction of the unstoppable market correction underway.”

My feeling as well. I’m sitting tight on my little farm, stashin’ the cash and the canned goods and ammo. ;) I can’t imagine having to sell in this market.

I’m not leaving here unless it’s feet first, LOL!