it sounds rational but it still feels bad. I moved to temecula in fall 02 and I remember houses on my cu de sac where we were renting and contemplating buying were 290k. I was afraid of being stuck there, and of course was fairly incredulous when they hovered in the 400’s. I felt kinda dumb for not buying one, and took crap from family, but that money i couldve made if id bougth and sold quickly isn’t mine anymore than the money paramount saw come and go was his. they are all theoretical. I think the whole issue now is just are you ok with being stuck somewhere. i guess that’s a negative way of saying are you ok with holding on to the house for 7-10 years. That sounds too positive for me. I think it’s better put, would you be bummed to be stuck there for another decade. if the answer is no, of course not, it’ll be fine to stay there, then, the flows of moneya re all theoretical. If your answer instead is, no, I want to be able to get out of that dump any time I want, then, it’s a bummer to be way underwater. i gotta say, though, having made the reasonable decision not to buy one of thos ehouses for 290k, it seems like a ripoff to make me pay for other people who were dumb. The least everyone can do is up the measly 7500 tax credit to 30-50k to balance it all out, since I should be bailed out for the profits i lost not buying in 03 and selling in 05