[fastcarsfreedom]

Sadly Flar, it's not even so much that the homes suddenly lost value, but their value (particularly in some markets) was grossly overstated--leaving a lot of people with homes that are worth far less than the debt incurred to buy them--which in turn has led to real decreases in property value and further erosion of equity--it's a vicious circle that is going to take some time to correct.