You know what, why can’t you guys just accept the fact that some people NEED a place to live, and DONT want to rent for whatever reason that may be, and they want to own their own house. It’s not always a financial decision, for lots of people it’s merely an emotional one, they find the right house in a good neighborhood with good schools and they don’t care what the financial implications are, they just want a home to raise their family. Or maybe, they play golf, and they happen to LOVE that over-priced golf club there, and want to live on the course….
You just never know with people, maybe they are suckers, maybe they aren’t, but everyone has their reasons for buying, even in this crappy market.