Speaking personally, I bought pre-bubble and it doesn’t matter to my living arrangements whether prices go up or down. I couldn’t rent for anywhere near as little as my mortgage payment. My home is my home, not some fabulous wealth building system.
We may not be able to predict a bottom – and we never claimed to – but we can recognize a declining market with no end in sight when we see it. Waiting for the market to correct before entry or re-entry is a sign of optimism, not sour grapes. We’re looking forward on our decisions, not backward. That’s why most of us aren’t stressed – we’re in a good place now and it’s just getting better.
If anything, your rant seems to be indicative of no small level of bitterness. What happened? Did your ARM reset and now you have to fork over another 20% on your condo payment? Did the market turn before you could complete your flip? Did you just get laid off your job because construction is slowing down? Something pissed you off, what was it?
