It’s bad enough being upside down on your gas-guzzling SUV. But what about being upside down on your house? Didn’t everybody say you NEVER lose money in real estate?
Think again. A national survey says home prices were down on average in May by 15.8 percent, worst drop ever. Could be worse. You could live in LA, where the drop was 24.5 percent. It was worse still in Las Vegas, Miami and Phoenix. But no place is worse today than LA, which, after recent wild fires, was just hit by a 5.8 earthquake.