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<blockquote data-quote="Relax" data-source="post: 3601613" data-attributes="member: 571303">If you are waiting for prices to fall even more, and are making six figures, you have got some other money management issues you may want to look at.I go to college, work 35 hours a week and live alone, in a house I own.&nbsp; Its a 3 bedroom, 2 bath townhome.&nbsp; Not huge, but certainly big enough to support a family of 4.As far as the gov&#039;t. &quot;bailing&quot; out people- I am on the fence.&nbsp; If it works as intended and keeps thousands from foreclosing, then it may be the best option.&nbsp; However, I have trouble believing that a large amount of the foreclosures and potential foreclosures are not related to the mortgage&#039;s interest rate, but rather homeowners buying more then they could afford for 25 or 30 years.Without any sort of gov&#039;t intervention, there is a huge risk the economy would be pulled down even further as thousands of mortgages were/are foreclosed in the future.&nbsp; Everyone should have realized the way the market was going several years ago, that is was unrealistic to continue selling as many homes for an extended period.&nbsp; The result of many builders and developers as well as home buyers believing the market would continue on its blazing path is what has caused the current state of the economy.</blockquote>

[QUOTE="Relax, post: 3601613, member: 571303"] If you are waiting for prices to fall even more, and are making six figures, you have got some other money management issues you may want to look at. I go to college, work 35 hours a week and live alone, in a house I own. Its a 3 bedroom, 2 bath townhome. Not huge, but certainly big enough to support a family of 4. As far as the gov't. "bailing" out people- I am on the fence. If it works as intended and keeps thousands from foreclosing, then it may be the best option. However, I have trouble believing that a large amount of the foreclosures and potential foreclosures are not related to the mortgage's interest rate, but rather homeowners buying more then they could afford for 25 or 30 years. Without any sort of gov't intervention, there is a huge risk the economy would be pulled down even further as thousands of mortgages were/are foreclosed in the future. Everyone should have realized the way the market was going several years ago, that is was unrealistic to continue selling as many homes for an extended period. The result of many builders and developers as well as home buyers believing the market would continue on its blazing path is what has caused the current state of the economy. [/QUOTE]

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