I’m going to try to take the TG route and try to be nice, while still trying to explain why we feel the way we do. Let me ask you a question, did the couples you describe continually gloat about how much money they were making, and how if you’re not in on the game now, you’ll never get in? I know many people like this, and they would continually try to get me to “invest” in the market, one even trying to get me to buy one of their own properties! (They’re having some trouble unloading it now) I resisted, as the only finacing I would consider was 20% down and a fixed rate mortgage. The only problem was I was in the top 5% income bracket, and could only afford the median home! That simply insn’t fair, and doesn’t sit with the fundamentals. I understand that some people are going to learn a painful lesson from this, and I don’t really like to see people suffer but I can’t truly feel sorry for them if they chose to believe that the fundamental nature of the real estate market had changed. I bet they won’t forget it now though. And in order for me to enter the market at the level I desire and should be able to afford, I NEED a correction to take place.

Oh, and I agree, JWM can come off as a little insensitive, but the content of his posts tend to be quite accurate. I’ve learned a great deal from him over the months. Stay with us, you’ll come to understand us a little better in time.