Everyone is banking on Appreciation?

[Account Closed]

I see a lot of people on the forum talking about appreciation and I know there is a thread on appreciation but I don't want my question to get lost in the mix. The question I have  is how is it everyone has equity and is gaining appreciation but I bought a house in 2009 that has depreciated and has me underwater. The house was appraised at 179k I bought it for 154 because the sellers mother owned the property and passed away, he had to get out of the mortgage. Is this just specific to the town I rent in? Is sicklerville, nj the only town in America with depreciating value?

I ran some comps of my development and the last 7 houses sold for an avg of $113k.