As far as being under water with regards to the home being less then the mortgage balance… Hmmm… I would say at least 50% of them if not more. Yet they all were quite educated in the sense that I gave them my personal views on the market.

As far as not being judgemental I am way past that. Long ago I had decided that 95% of our population were morons so whether we call it poor judgement, stupidity, foolish behavior… it is all the same to me. I am not so sure I agree with playing the card that they were not real estate experts so they could not envision the crash. Bottom line is they did what they did because they were allowed to, encouraged to, prodded to by our society and our government.

The few people who did not fall into the trap are the ones who simply thought, “what if” and/or “maybe I shouldn’t buy something I cannot afford”. Rightfully those that stayed in thier means were smart. Wrongfully they thought they would reap severe benefits but all they got out of it was a nice savings pad that is slowly whittled away by inflation as well as an incredibly poor rate of return.