U.S. Homes Lose $700 Billion in Value in 2011-and That's the Good News
The year-end housing news is sobering -- U.S. homes are expected to lose more than $681 billion in value in 2011. But there's an upside -- that's 35% less than the $1.1 trillion lost in 2010, according to new research from Zillow (Z), a real estate information marketplace.
Who were the biggest losers? Big cities with lots of housing, like Los Angeles, down $75.5 billion, New York ($44.8 billion), and Chicago ($41.7 billion). Overall, more than 90% of markets lost value.
Participate In, Organize and/or Promote An Occupy Our Homes, Occupy Our Communities Rally: http://www.meetup.com/Occupy-Our-Communities-Responsibly/