2009 reports show US Homeowners have lost nearly $500 billion in home values overall, but that’s still better than last year. The biggest losers were the Los Angeles, Chicago and New York metro areas at a collective $159.4 billion loss in home values. In contrast, Metro Boston, Providence, R.I., and Denver gained $46.4 billion in home values all together. So where will this lead the direction of home values in your area? Unfortunately, this is something which is hard to predict. There are many factors which figure into this equation such as; home equity (negative and positive), (un)employment, living wage jobs, etc.