Let's hope it's not as bad. For a lot of people, all they have is their home.
Yes, but if they have no intention of selling their home in the near future, what difference does it make what it's worth today. My parents have lived in the same house since 1979, it's paid for and they would love to see it lose ALL of the market value it's had in the past five years because it would cut their property taxes by two thirds.