6.5 Trillion: What Homeowners Lost Since 2006

"When will this end" is what most ppl ask about falling house prices. We wrote about housing price statistics before, essentially pointing out how the fall has been ongoing for the last 57 months. Today we spotted this:

"American homeowners have lost $6.5 trillion in equity in those 57 months. Here is the data from the Fed Flow of Funds household balance sheet:

Homeowner's equity:
2006: $12.8 trillion
2011: $6.3 trillion

Net decline: $6.5 trillion"