I agree that there were many good posts here. Conversely if one goes back to say 2006 and starts to tally up all the intelligent posters who have purchased homes the numbers are most likely staggering. It has nothing to do with bailouts and the 270k per job stimulus packages. Similarly having overpriced assets is not a good thing because it simply adds future risk to prudent buyers who made purchases based on other factors knowing full well that the market they were shopping in, while cheaper then the past, was still being manipulated and indirectly subsidized.
With that said, these Piggs, who as AN stated are nowhere near the norm with regards to quantity or quality of buyers, have all mostly made purchases already and now have been living in their homes from 1 to 3 years. There are several leftovers who have missed the boat pricewise but still can enjoy cheap money. As we have all discussed, monthly payment is a much stronger measure of affordability then sales price.
I thing those that made the purchases will for the most part be fine regardless of market conditions as long as they have an income stream to continue paying the mortgages. For the most part they will also enjoy a quality of life that FOR THEM is superior to those who rent.
