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Originally Posted by GBBob
You don't think they already have fallen enough? If people keep losing equity and home values keep plummeting, how can that be good? So many people are backwards on their mortgages, not because of anything they did wrong, but rather their homes have depreciated 30% in 2-3 years.
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people also living off equity lines of credit, and now that's gone out the window as well. so, multiple payments due each month on a house not worth what they owe...so how many folks defaulted just because they no longer wanted to throw money into something that wasn't worth it? how much of our current problems are due to people who
can afford their debt, but just don't want to? they look at it as an investment, not as just having a roof over their head, and buy low, sell high is no longer what they're able to do.