[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]
I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.
But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.
I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.
