You know the thing that irks me is that you could see this mess coming three years ago! But everyone just buried their heads in the sand and rode the train as long as they could.
If our great (and great great for that matter) grandparents could see the way we are living today they would be mortified. The spend spend spend and worry about it later mentality of todays society is out of control.
I'm sorry, but WHY people that make 40k a year think they can afford a 400k home with nothing down is beyond me?! I know that I'd never be in an 800k home.... sigh... Ok, I have a customer- rant over.