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We've lost about 15% of the value of our house since we bought it 3 years ago. Closed about 6 months before the market crashed. The loss seems to have stablized recently as the local sale prices are holding. We have a long way to go before we have any equity in the home.
Not overly worried about it as we have no trouble making the payments, just going to take awhile to get any equity.
Prices in my area are depressed mostly because it is a distance from highways and major cities. Pretty rural which is what attracted me to the house in the first place.
Buying another home for income purposes is not feasible.
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