>http://www.breitbart.com/article.php?id=D8VJRJKO0&show_article=1
>
>Interesting, do you think the recent mortgage problems (and the huge drop of the average priced home) suggest people are finally limiting themselves to purchasing homes they can actually afford?

There is a slight possibility that more people are looking at the consequences of a mortgage in the future - not just the first payment.

The pyramid scheme realty market is bad enough (people convincing each other that realty is worth much more than it was a month ago so they can sell their property at an inflated price and then buy more expensive inflated realty) without people looking at an ARM interest rate that they just might be able to afford if they can re-sell quickly that then jumps a couple years down the road.

Of course, taxpayers get to foot the bill for the crisis it has caused.