Quote:
Originally Posted by CarolinaGTS
I have the hardest time trying to explain this market to my clients in Real Estate. Most of us homeowners remember that it was only until about 7 years ago that the common saying was that you had to stay in your home 5 years, just to break even. And yes, that had almost always been consistent.
Now, I have clients in these "down" times, that are still making over 100% appreciation over when they bought 5 years ago, and they're freaking out because it's no longer 150%. The ones that are hurting are those who bought in peak time about a year and a half ago. They HAVE truly lost money. That sucks for them, but that's the danger we play with in any investment.
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they actually haven't lost anything yet.....unless they've sold. It's the same as stocks.....you don't lose anything until you dump it.
this is of course assuming things rebound a bit.
--wes