If the values of the condo and the townhome I purchased in the early 90’s (both of which i now own outright)revert to zero then you will be correct. My bet is that will not happen.
As for the home I purchased four years ago and live in now, I guess we’ll see what happens. I can’t predict the real estate market or any other market for that matter. What I can say is that I would rather own these properties and have a mountain of equity than not own them and be on the sidelines rooting for a disaster as my only savior.
Now, I do believe prices will pull back, but how much and for how long I do not know. It will take a helluva pull-back to erase the equity gains of the past 5-6 years, that’s for sure.
The enlightened ones who predict future events with such specificity and certainty always provide amusement for old guys like me.
