I think appraisers did the same thing years ago by overestimating home prices. It would have been nice if they had gone a little on the low side 5 years ago when I had to pay my ex half. Ha! :p

good point lenny_v... unless the reporter's information is incorrect

No kidding! I'm sure HR big wigs got their share before they even went on sale, as well as holding back many for high rollers. Seems really unfair.

I don't know that I would refer to them as stupid. Perhaps misinformed and they definitely used poor judgment. I don't fully blame the purchasers. The ones who handed them a phony golden ticket should be ashamed.

Everybody has an opinion on the subject. I only hope that people give this new administration's plan time to work (if it's going to). This problem wasn't created in a year or even two - so getting it back on track is going to take some time :)

When huge manufacturing companies started shipping jobs overseas to cut their costs is when they cut off their nose to spite their face. Greedy CEO's continue to rake in the big bucks while people like you and I face losing our jobs, our homes. Wall Street took our pension money and ran. Now we're stuck bailing them out but "some people" don't think it's right to help the little guy. Oh, and please don't get me started on farming. It astounds me that government pay farmers NOT to farm.

People buying the over-priced houses didn't cause the housing bubble - greedy mortgage companies and banks (along with realtors who made a bundle) did that all on their own. Luring in potential homebuyers who they knew shouldn't have been given a mortgage in the first place.

BOFTX, I could go on and on but it's clear that you and I are not on the same wave length. I truly hope that your future is secure; your home, your job, your retirement. Best of luck to ALL of us.

Well, boftx, that's a rather nasty attitude to have. I don't know where you get off saying people who bought homes that were over inflated in price are greedy...if anything it's the people who sold them. But that was the market. Or perhaps it's as you further suggest... we're "stupid." I think your statement about hoping it takes 30 years for home prices to recover is about the stupidest thing I've ever read. How ignorant can you be? Unless you are planning to kick the bucket tomorrow, the sooner the market improves the better it is for everyone... including you.

I agree that homeownership is not for everyone but it's not just about buying a house it's about affordable rental units. Developers need to stop building these multi-million dollar high rise condo complexes that clog up the valley's skyline. Normal people cant afford those and those that are being sold are most likely to out of state wealthy people. We need realistic apartment rentals. End of story.

These are the most ridiculous comments I have ever read. What is the matter with you people? For crying out loud. I am a single woman living in Summerlin.... quite middle class, thank you very much, I work my @$$ off for what I have and I own my house. Do I want crime in my neighborhood? Of course I don't but it happens - EVERYWHERE and I don't blame it on lower income people moving into the area. If you've got such a problem with the less fortunate and you think they are all criminals and gang bangers just lock yourselves in your homes pull down the rolladen shutters and set your house alarm. I promise, nobody will bother you. :-p