CAR
I love when you post statements like this because it speaks to your clear biases:

“People with those higher-end homes were taking HELOCs and cash-out refis with the best of them, and many of them are certainly not able to pay off their debts as agreed.”

You say “many” because you need to beleive that there are “many” of them out there. The reality is that there are “some” of them out there. The problem is that there are more buyers than “some”. That is why any premium property in NCC that ends up truly as a fire sale distressed property always gets bid up to retail if the market has a fair chance to bid on it.

First of all in most parts of the country homes dont even approach the prices you believe they are legislating to. Its as if you beleive they are sitting in DC on Wall St trying to prop up the NCC market.

Fortunately you are in a good place. Enjoy the view from there because that is what you are going to have unless you change your perspective.