AN, sometimes I don’t know if you like to just argue, because this is such a ridiculous comment you made. Even people with no financial knowledge know that cars are worth less when used than new, and that houses increase in value. It’s common knowledge. And you are a very smart guy, so you would be aware of this common knowledge.

It’s rare in this country that houses lose value. Historically, they climb with inflation. When they have lost value, it’s gradual. In SD’s last downturn, the biggest loss was 6% year over year in 1992 (LA’s biggest loss in the last downturn was 7% in one year). Since Dataquick kept records in 1988, we’ve never had anything greater than a 7% loss in one entire year in LA, and that was during the bottom of the last downturn during high unemployment and high foreclosures. So how can anyone expect their home to lose 20% of its value in just a few months in this current economy? Something’s not right.