Just since last year, I have lost over $2 million in the value of my house, and in a twisted way, I’m delighted. It’s nice to see some of the bug-eyed insanity start to break. Below we see the valuation drop from $8.3 million to as low as $6 million a few months ago. It’s about $6.5 million now. A moment of silence, please, for all the families that bought last year.
As I’ve said in the past, this kind of thing doesn’t bother me because (a) I bought in 1991 (b) it’s a freakin’ HOUSE, and I LIVE here. But my perverse glee at seeing red makes the multi-million dollar asset blow somehow seem worthwhile. Here’s the longer-term trend.
Can you imagine the mayhem if houses starting falling to 5 million, 4 million, 3 million, and more? Jesus Tap Dancing Christ, man.