“needed” LOL
No it was not and it has worked out so well also LOL.
What do you do If buy a house a the peak then become deeply under water? You need to save reputation, influence and still make people believe that you are respectable. You cannot cut and run, so you plug along and throw good money after bad. In the long run, it’ll work out…. but, all else being equal, your neighbor who made better decision will surpass you in wealth and influence.