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When it comes to home ownership, I figure the only thing that matters is what you buy it for and what you sell it for. So if your house is worth 33% less and you have no plans to move anytime soon, who cares? You haven't lost anything. (Besides, prices would have to drop even more for me to be able to afford anything over here in San Mateo/Santa Clara counties...)

Lisa S.

I'm moderately concerned because, at some point, I wouldn't mind remodeling and it would have been handy to have some equity above and beyond what we've paid into our mortgage. And the local market also affects re-fis -- fixed-rate mortgage rates are dropping, but any broker who's looking at my application is also looking at comparative values in the neighborhood, so thanks to the douchsmacker one street over who couldn't handle his mortgage and had to foreclose, everyone's comps dropped.

So -- tougher for me to get a refi, tougher for me to get a home equity loan if I want to address our 1926-era electrical wiring or wonky plumbing. And this is all thanks to other people's bad decisions.

I would like to find out how much longer I've got ride this out, you know? It'll give me a timetable for socking away alternate financing for any major home-reno projects.

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