Housing prices are returning to normal in some places, in other places there was never a housing bubble so the market hasn't changed. If you bought a home 10 years ago, you didn't lose any money. It's like stock picking - if you bought before the bubble, even though your investments may have been valued at more than they are now, you didn't lose any money. If you bought when prices were high and sold now, then you lost.
Buy low, sell high - now is a good time to pick up a house.
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