I have freinds that took money out, and since they didn’t sell last year when I told them to, now they are stuck with a first mortage, and Heloc, and a home that is valued less than what they owe. Now they will be unable to take advantage of the crash, and possibly move up. They will be “Stuck” to that home for many years.

My freind’s reason for not selling when I put my home on the Market early last year, was the homes will appreciate to 500k within a few years. Which was the reason the Heloc seemed like a good idea.