Would the possibity of a difficult employment enviorment have any effect on your textbook theory of “paper only loss”? How about “Spiraling Bankruptcies” or other negative epidemic. I am not picking on you just trying to make the point that there is some significant risk. It is directly proportionate to how out of what the market and economy is at the point of investment into the house.
EDIT:
Lets put this in a positive way too. AN do you realize what purchasing property at an very propicious time vs. a terrible time can do for someone’s opportunities in life?
