I don’t necessarily agree with the article, either. I think the article pointed to increased foreclosures in places like Ohio due to their higher unemployment rate…which was a whopping 0.2% higher than California’s 4.8%. Like HiggyBaby said, what good does it do to have a job if you still can’t afford to make the payments?

Employment (more so the psychology of high employment) IMHO, is going to be the straw that breaks the camel’s back in this inflated market. I predict that there will be an inevitable hiccup with employment at some point in the next 12-18 months and it will expedite the housing crash. Who knows.