Anyone who is a homeowner or involved in real estate is dreading what the house market prediction for 2009 is going to ultimately mean. This is because values are continuing to decline, leaving millions of homeowners with property valued at far less than the mortgages they carry on it.
For example, ten years ago a home that sold for $500,000 should realistically be worth around two hundred thousand dollars more than it was a decade earlier, but today, that home is probably valued less than it was during the real estate peak years.
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