What was the overall drop in home values during the worst part of the recent home crisis?

Asked by Torian, Athens, OH Wed Apr 4, 2012

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SERGEY FEDNOV…, Agent, Beverly Hills, CA
Thu Apr 5, 2012
Between June 2007 and November 2008, Americans lost more than a quarter of their net worth.

By early November 2008, a broad U.S. stock index, the S&P 500, was down 45 percent from its 2007 high. Housing prices had dropped 20% from their 2006 peak, with futures markets signaling a 30–35% potential drop.

Total home equity in the United States, which was valued at $13 trillion at its peak in 2006, had dropped to $8.8 trillion by mid-2008 and was still falling in late 2008.

Total retirement assets, Americans' second-largest household asset, dropped by 22 percent, from $10.3 trillion in 2006 to $8 trillion in mid-2008. During the same period, savings and investment assets (apart from retirement savings) lost $1.2 trillion and pension assets lost $1.3 trillion.
Taken together, these losses total $8.3 trillion.
9 votes
wow!
Flag Fri Apr 6, 2012
Rich Homer, Agent, NAPLES, FL
Thu Apr 5, 2012
All real estate is local so engage a local Realtor for the answer http://www.trulia.com/voices/directory/Athens-broker--4496
0 votes
Steve Quinta…, Agent, Albuquerque, NM
Thu Apr 5, 2012
You can get the answer to your question by looking at top level market tracking reports available to the general public.

Many leading economists, investors and government officials use the Case Shiller report to measure gains and losses in the real estate market. You can cut and paste this link to see the report:

http://www.standardandpoors.com/indices/sp-case-shiller-home…

The Feds have their own value tracking statistics that are influential in the market place and are viewed as authoritative. The Home Price Index can be seen by cutting and pasting this link:

http://www.fhfa.gov/Default.aspx?Page=14
0 votes
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