Agree on it all. Owe nobody anything, that you cannot pay off tomorrow if you choose. In 08', I was so disappointed that I didn't have enough cash on hand, to take advantage of all the falling prices. But did get F @ 1.65.
And land, wooo, the deals that were out there. But we're ready this time.
I expect a repeat that time, but it will be worse, of those who walk away from mortgages that are terribly under water.
I was shocked over the last few years, as to the increases in home & land prices.
The last time I added to my land 15yrs ago, recently was valued at an increase of 580%. And that was just normal market prices. This next time, the prices should be at depressed levels.
A sure sign that the debate has been won:
When the response is an attack against the other person.