“We are having to start from scratch and rebuild for a down payment. We figured that a home is the place to build your wealth, and now it’s going on three years and we are back to square one.”
– Kenneth Schauf, a Chicago homeowner, quoted in a New York Times story about a projected drop in U.S. median home prices. Schauf has been trying to sell the condo he and his wife bought in 2004 since last summer, and he expects to lose money on the sale, according to the story.
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