Why do you think that future house purchasers should subsidize previous house purchasers that purchased more than they can really afford?How does it help you for your neighbor to be foreclosed? The house isn't going to sell for $250,000. It may not even sell for $200,000. And when it does sell, that house is going to be part of the neighborhood comps, which means that your house is now worth $200,000 or less. Nobody wins when the homeowner gets roughed up in this market; not the homeowner, not the lending agency, and surely not the neighbors.Hedge
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