Sorry this thread got off topic. My intention was to make a positive statement regarding the house sale, and to congratulate the person for extracting some equity from their
home–especially in this market.

I brought up some examples of friends and family who live in the area, and what they had paid for their homes in past years for comparison.

Yes, values are dropping everywhere, but my point was that those who paid $100-200K for their homes in fantastic areas, and have no debt, really don’t mind so much, as they’re still way ahead of the game. They are happily living in beautiful homes (and definitely not of the “shack” variety as so graciously mentioned).

We’ve owned our home in La Jolla overlooking LJCC for years, (and yes, I bought it myself with proceeds from one of my screenplays (I work in film and TV). Sure, we’re seeing some properties selling for a discount around us as well, but again, some who’ve owned for years are still realizing a very healthy profit. That was my point.