That is one of the most ridiculous statements I have read in this blog.
Er..what is ridiculous? Most, and I mean almost all, people cannot recover from a $700,000 commitment that declines 20 or 30% in value, that’s being upside down $140,000-$200,000, especially when almost all first time buyers are going with zero down or even worse negative amortization.
Just because you claim to have the capacity to withstand several hundred thousands in capital losses without going under does not make a general case, kapicshe? Think about the broader context next time you counter instead of imagining that the world is only about yourself!
