Just got the town tax assessment. My home value has plummeted almost $24k below what I paid 2 years ago! I currently have NO equity. Wait - negative equity! At least my property tax will be lower, lemonade out of lemons, right?
Trying to breathe. It was valued at $22k more than what we purchased it for back in 2007. So technically, that is a $46k drop.
And this, people, is why we are on a 5 year plan. Wasn't going to sell the place anytime soon.