[quote=patientrenter]
To the extent that you are stretching the price, you are getting taxpayers and savers like us Piggs to use mostly our money to help you keep home prices inflated. So we’re kinda tetchy, like I said before.[/quote]

Your argument is a stretch to me. To the extent I am stretching (am I?), I am not using your money. If I were to default, I might be using SOME of your money. Making your correlation is too much for me. I understand you can be upset if people are keeping prices high, but people are going to buy when they want and need to. If I wanted to wait a few years for things to go down, maybe I would. You do, good for you.

Also, you don’t think default rates from loans that have originated more recently will decrease? I wouldn’t necessarily say things are peachy keen now, but I have to think lending practices have gotten better. No ARMs, no stated incomes.

Just because the price of your house goes down, doesn’t mean you default. Just because I have less money to put down doesn’t mean I can’t afford to make my monthly payments. If I have $180K to put down, I still might meet terrible circumstances in the future. The bank will still foreclose. I guess you could ASSUME I’d have more savings, but why would you assume I personally am not planning on building up savings for a contingency event?

Because I am a NEW attorney, I don’t have a ton of built-up savings. $60K is a tiny amount?