40% loss in net worth in last 3 years

[Rich Weese]

I'm sure many have heard the numbers recently that the median net worth of individuals in the United States has dropped 39% in the last three years. I'm just curious how BP members have fared during the same three-year period.

Most of the loss in net worth was caused due to the devaluation of real estate and the lost equity in people's personal residences. There are many on BP, including myself that have benefited from the lost equity in other people's homes. I'm sure there are members on BP that were at the other end of the spectrum where their net worth decreased because of lost value in a home or actual loss of a home completely.

This represents a tremendous amount of buying power loss of the individual. I would like to think that BP members, with the knowledge we have have not been have Ridge and don't fall into this same median loss of the country on the whole.

There might even be some members here on BP that were involved in both ends of the spectrum, having lost their home or value in their home but gone into the business of purchasing short sales or REO's.

I would be one that has been involved on both ends having seen values of existing properties decrease, but also taking advantage of buying undervalued properties. Just curious into other stories and situations of how we at BP compare with the rest of the country. Rich