We all know the saying “misery loves company”. That’s why I was glad to read it’s not just middle class homeowners that have lost a lot of value in their homes.
The most famous home in the U.S. has lost 25% of it’s value since the height of the market which is about $80 million. The White House is now worth $251 million plus which is still quite a lot.
Sometimes I wonder if the bottom of the market will ever come to Southern California. Prices have been pretty stable the past six months, but the big unknown is the number of foreclosures coming.
But like the White House, we’re not planning to sell anytime soon. Do you think the housing market is at or near the bottom?