I've lost money before. I've dropped change. I've paid too much for auto insurance. I've bought things a week before they went on sale. I've made stupid money mistakes, but I've never lost 40,000 in one day...
I received a letter from the County of San Diego about my house:
"Based on recent sales in your area, we have reassessed the value of your home. Your home has DECREASED in value by $40,000. Due to this large DECREASE in value, we are adjusting your property taxes accordingly."
First off, a hearty thanks to the county for writing DECREASE in all caps. The kicking me while I'm down thing is nice.
Second, this is the fourth letter I have received since I bought the house in 2007. The grand total DECREASE to date?
That's not a pie in the sky 'oh, the neighbors sold their house for cheap so I think my house value has dropped'. This is a solid 'the city has it on paper that I flushed $150,000 in four years'.
Now if you'll excuse me, I'm off to suck my thumb and rock in a corner until the market bounces back.
This could be a while.