How do you imagine the math working on that? I'm trying to figure out how a hypothetical homeowner could recover from a 30% drop in the value of their home combined with a need to move to find work, because the region they're in now has far too many unemployed in their sector. I can imagine a middle-income homeowner recovering from a 30% drop in putative home value over 10 years, but certainly not in 3. And that presumes more job and wage stability than is probably appropriate.
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Date: 2010-10-01 08:42 pm (UTC)I'm trying to figure out how a hypothetical homeowner could recover from a 30% drop in the value of their home combined with a need to move to find work, because the region they're in now has far too many unemployed in their sector. I can imagine a middle-income homeowner recovering from a 30% drop in putative home value over 10 years, but certainly not in 3. And that presumes more job and wage stability than is probably appropriate.