There are thousands upon thousands of qualified, first-time buyers with stable income, good credit (and maybe even a down payment!) that are simply priced out of the current market.
The problem is that there are a record amount of home-owners (debtors) thanks to the easy lending standards of the past. So the majority are going to be losers in a nationwide housing slump.
Btw, Americans will lose *trillions* in equity before this is all over.
