good! good! everyone under forty should be cheering this on. if you finally want to be able to afford a house, you need people who currently own houses to go through some degree of hell. the "bailout" is about making sure those who had money yesterday have it tomorrow. i say let the power change hands. LET IT SHATTER. i will buy the pieces on sale.
yes, a home OWNER, as in i hold no mortgage. i have zero debt. i have cash to buy distressed assets. i just wish people would stop trying to "save" things.
I am in similar boat. But what worries me is if this means much more then that... what if you suddenly don't have cash, or its worth nothing. What does it matter if you own lots of houses and no one can rent them. Well, its unlikely it would ever be as bad as that ;) but heck, hard not to worry about unlikely events.
