“Equal access to ownership” does not mean slackers can buy La Jolla homes at Temecula prices. It would be ideal (IMHO) if a great majority of people could buy homes near jobs that can support them and their families in a middle-class lifestyle (not Hummers and big screen TVs)…wherever that may be.
SDR, you and I agree on the cause of the current problems (loose lending), but it takes the other side of the equation (speculation) to complete the destruction. If ALL buyers refrained from speculation and avoided taking on too much debt, it wouldn’t matter how much money lenders were willing to lend…without willing borrowers, there would have been no housing/credit bubble. Unfortunately, greed exists, and **both** borrowers AND lenders have to be regulated because the actions of borrowers and lenders have potentially grave repercussions for society at large.
I’m probably not making myself clear. This is not about being bitter or upset because of our personal situation. We can personally afford almost any area in San Diego, but are **choosing** not to buy because I believe we still would stand to lose a lot of money in the areas where we want to buy. I’m talking about a theoretical situation, not a personal one.
