I've kept an eye on Murrieta's housing market over the past year, since we left, with an increasing sense of having just avoided a major train wreck, combined with a growing feeling of guilt about selling our house to someone who is now stuck with a 50 percent loss.
Thanks to all of the foreclosures that continue to flood the SoCal market, and especially the Inland Empire, as our corner of SoCal was known, our house is now worth approximately what we paid for it in 2001. I'm stunned that six years and a half years of appreciation could have evaporated that quickly, and from what I'm reading, it's not over yet.
I just ran across this article today, on GQs website, about the city just to the north of Murrieta, which it describes as ground zero of the foreclosure crisis.
I'm so glad we got out and yet I feel badly for our buyer....
New blog - So, made a new blog. Click here if you wanna check it out. Will have more serious stuff there.
7 years ago