“....since she bought a home in Sacramento right in the middle of the worst collapse in housing values there on record.
Yes, she probably got a very good deal - very low mortgage rate, too.
A good deal that continues to lose value, and now her paycheck is apparently going to be inadequate for her overhead costs. Will she be able to sell that good deal, in a reasonable amount of time, for what she paid for it? No, she won’t. So, that good deal wasn’t such a good deal.