The problem for some people in the burst isn't that housing values will drop, but rather that they will fail to continue rising. Many a
poor dope has bought real estate with questionable financing based on the idea that it doesn't matter how much it costs to float the loan, the price of the house is going up so fast he's covered no matter what.
Worse still are the people who were told by smarmy lenders that they
had increased equity in their house and why not "use" some of that equity.
past few years, the illusion that one's house, because it was appraised for a lot more money than you paid for it, was oozing and growing money from all corners! It is amazing at the number of people who never grasped the idea that you can't live in your house and spend it too.
But in the case you describe, Bev, I'd think there's not much to worry about. With only 11 years to go on a mortgage and no plans to sell unless you have to, a housing bubble will not affect you at all.
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