I find this amusing in a gallows humor kind of way, but I took a glance at Zillow and found that my house is down a million bucks from its peak.
I knew this day was coming, because the insane prices being paid, coupled with rising interest rates, would surely put an end to the real estate madness around here.
I’m not bugged by it, because I bought so long ago that it just doesn’t hurt. But the simple fact is that there are people that DID pay at the top, and you’ve got to guess there are at least a few people that are already “underwater” on their Bay Area real estate purchases. Besides which, I think plenty lower prices are coming.
Now why can’t equities do the same?!?!?