[quote=sdcellar]And, I’m sorry, most every person I know of reasonable means would be at least a little bummed if their home value fell in half (okay, a lot bummed).[/quote]

half off peak price or half off purchase price?

I agree, 99% of folks would be bummed if it’s the latter…

But if you purchased years ago, for much less, then half off peak doesn’t really matter since that’s not what you paid… unless, of coures, you had cashed out equity as the price was rising.