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just noticed the house I bought in June is already underwater..what to do?

I bought a house in June 2022 for 640k at the peak of the market with a 4.3% 7 YEAR ARM interest rate.

But today when I look at redfin estimate and alot of home sales in my neighborhood. I noticed my house value dropped 11% in just 5 months. I paid 15% of the down-payment and now it worth nothing.

I'm pretty sure the price will continue to drop next year and I will definitely be underwater. Now I even think the price will probably drop another 20% and my house will worth only 480k..

What can I do? Does it still make sense to pay the mortgage and keep this house if I'm underwater?

submitted by /u/Impressive_Gur_7860
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source https://www.reddit.com/r/RealEstate/comments/z6ryc8/just_noticed_the_house_i_bought_in_june_is/
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