It’s kind of funny, but I was talking to a couple of friends who’ve never had much money and always wanted a house. Now that there’s 3% down and a much higher limit, they both are going to buy a house. When I told them of the horrible fundementals, they both said, “At 3% down, if the crap hits the fan, we just stay in it until they evict us.”

So here’s the future speaking. I give them 18 months, tops.