What will 2009 do to our home values and networth? Read on, and see what some experts predict.

 BofA sees additional 15% drop in real estate prices: Bank of America expects home prices will fall an additional 15 percent nationwide and 20 percent in California, BofA Chief Executive Officer Ken Lewis said in an interview with the Los Angeles Times.

Bank of America has previously said it plans to lay off 7,500 employees as part of the merger with Countrywide, and engage in workouts or loan modifications with 265,000 borrowers (see story)

Policy center reports home-price impacts on wealth: The Center for Economic and Policy Research, a nonpartisan think tank, reports that if home prices hold steady through 2009 the median household headed by those 45-54 next year will have 24.7 percent less wealth than the median household group in this age range five years earlier. That’s according to a study by the group, The impact of the Housing Crash on Family Wealth.

• The study also found that if real house prices drop 10 percent, the median household headed by those 45-54 will experience a 34.6 percent loss in wealth compared with the median for this group in 2004,

• While households in the 18-34 range will lose 67.6 percent.

• If prices fall 20 percent, families in the 55-64 segment will experience a wealth loss of 49.6 percent compared to the same segment in 2004.

Tags: Net Worth, Real Estate

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