There does seem to be a little inconsistency in your argument. On the one hand you admit to the mess we are in, and that mortgage companies and the industry in general should be accountable, and on the other hand you seem reluctant to accept the mess being put to rights. You can’t have your cake and eat it, as the saying goes.
I think many of us are victims, whether our homes have appreciated, or whether we weren’t able to step onto the property ladder. The point really is that, if prices fall, and they seem to be doing that, then the sharp increase in property values that we have seen over the last few years has been largely artificial. It is not real ‘value’, but speculative value and therefore you haven’t necessarily lost anything, if your home does devalue. Moreover, it is possible that in a few years, prices will be back to where they are now, and hopefully will reflect more of the fundamentals that have determined pricing prior to the bubble.
