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U.S. homeowners lose $3.3 Trillion

American homeowners collectively saw $3.3 trillion erased from the value of their real estate in 2008. What’s all the more stunning is that $1.4 trillion, 42 percent of the annual 2008 total, was lost in the fourth quarter alone, due largely to the fact that more markets fell into negative territory as the year progressed and those already in negative territory just got deeper.

These are just two of the literally thousands of data points found in Zillow’s Q4 2008 Real Estate Market Reports released yesterday.

February 3, 2009 in World View [of real estate] | Permalink

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Comments

That figure is stunning to say the least... I just hope those that got into real estate investing weren't in it to flip. Being able to buy and hold your property for at least 5 years is the only way to do it. It's just too risky any other way.

Posted by: Brewer Caldwell | Feb 10, 2009 1:21:14 PM

What happened to the other article about not selling due to panic?

Posted by: Toronto Bear | Feb 3, 2009 6:58:11 PM

Real estate is going through tough phase.

Posted by: St. Louis Commercial Buildings | Feb 3, 2009 2:47:09 PM

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