A new report from Zillow puts an absolutely jaw-dropping figure on the housing crash: $9 trillion. That’s the total home value destroyed since June 2006.
It gets worse. $1.7 trillion of that damage occurred this year, primarily in the first half. More loss is coming next year, as Zillow economist Stan Humphries predicts a double dip in housing that won’t hit bottom until summer — or later by Case Shiller estimates.
See how much equity your city lost here:
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