It seems to me that this whole thing was engineered through the tax codes. The only thing you can deduct anymore is interest on a dwelling, so people were refinancing their homes to buy new cars, boats, motorcycles... You name it.

             I sold a house a few years back, and not knowing where I was going to be working for the next several months, I rented a house. My taxes at the end of that year were astounding. I had to buy another house to take advantage of the interest credit scam.

             I think folks who criticize the home buyers in this environment have failed to realize what a huge tax burden a renter is really saddled with.