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Yes, exactly.

There is something I have just noticed in the Zillow link above. The last sale price of the property at 706 3rd st has an asterisk by it. Because it was a foreclosure sale, the sale price is apparently not being included in Zillow's home price guides because it is deviates too far from...

There are currently about 300 homes in foreclosure in SC - here is an example from November 25 of last year. A 3 bed/2.5 bath (and it's far from a shoebox) on 706 3rd St, SC sold for $235K with last valuation being $674,500. Some optimistic buyer has now put it for sale for $939K so I'm...

Well, some banks didn't stay in business and some were bailed out with taxpayer (ours) money. But your friend is correct - it's true - we did this for decades with our PPOR. We used out house as an ATM. Need to remodel the kitchen for $60,000? Just refinance. Need to send the kid...

Agree. I've just had an unnerving conversation with a friend very much into property who bought a beautiful home in Santa Cruz of California in 2006 for $750,000. They are now seriously underwater, with a similiar house on the market in their street for, firstly $300K and now $200K -...