The article reports on possible cases in which Seattle-area residents are selling homes for less than they paid for them. It cites the city of Clyde Hill as an example. One of the state’s wealthiest communities, with a median home value of about $4.3 million, Clyde Hill nevertheless found itself on the brink of bankruptcy. The excerpt does not provide details about the scale of the losses or the reasons behind the situation.
Based on: Have you sold your Seattle-area home at a loss?