" Then go back and do it again when the market becomes reasonable again. "
Well-and-good, assuming that there will still be lenders in existence...
This is not taking place in a vacuum -- everything is interconnected and intertwined, and how many strings need to break before(mixing metaphors) the whole house of cards collapses?
Remember that the stock market crash of 1929 didn't cause the "Great Depression" -- it was the subsequent collapse of the banking industry....
There are some really scary parallels here.....
Yup.
I keep hearing "If the prices fall, I'll buy. If they are going up, I'll sell. If... If... If..."
It ALL DEPENDS ON LIQUIDITY AND THE AVAILABILITY OF LOANS!!
Seems everyone just assumes they will always be able to borrow as much as they need or want.
There's not alot of folks walking around with 3 or 4 hundred thousand dollars buried in coffee cans in the basement.