We’ve all been avoiding the scary task of checking on the current market value of our home. We have read that the median price on sales of existing homes fell 13.2% in one year, the biggest drop in 40 years. We also know that new housing starts in November were 624,000 units, down from 1,178,000 units a year ago. (Source: Barron’s) All of the housing news is bad except for mortgage rates which have fallen.
Mr. ToughMoneyLove thinks it’s time for all homeowners to face the music and find out what has happened to our own home valuations. The numbers won’t get any better if you avoid looking at them. I promise. Read more