I actually bought a house in 2003. My county appriasal said I’ve had $100+K of appreciation since then. But I did not go out and do a HELOC to buy useless things or invest in additional properties. Like a lot of people here, I bought a house not expecting to make a killing — it’s just a shelter and roof over my head.
However, I follow this site just like people who can’t resist rubbernecking when an accident takes place along the side of the road. What the heck, I admit it — I enjoy watching a slow-motin trainwreck. Being called a sourpuss doesn’t bother me at all. I just enjoy the feeling of shadenfreude — of seeing greedy people going down in (financial) flames.
I am actively rooting for chaos and bloodbath in the housing market.