I'm sure that, like me, you've been following the news of the mortgage crisis in the United States, and the drop in home prices due to it. Even if you don't want to follow it, you can't help but hear the coverage! While lower home prices are potentially good news for home buyers with stellar credit and a down payment, it's not so great for folks who bought their houses during the housing boom. We bought our home four years ago, and while our home has appreciated in value, thanks in part to work we've put into it and its great location, it certainly has been affected by the market downturn. Unfortunately, I also know some people who bought their house at a higher price than it's now worth, thanks to the market downturn.
What about you? Do you own your home? Does the downturn in the real estate market have you singing the home ownership blues? If you don't own, are you happy about it? Will you take advantage of the lower home prices now? Has the housing downturn affected your ability to sell your current home, or make a cross-country move? Tell me by commenting below.