Yeah - I’m not happy with the loss of equity in my home either. Luckily I did two things during my last move: bought way below my means and put a boatload of cash down. I saw this mess coming.
I feel bad for everyone who gets the shaft in this deal. It’s going to be a lot of people. BUT...
Failure to properly address this problem could easily lead to a bigger breakdown in the banking system. That would be the real tragedy. There would be a lot more at stake then.
We did the first part (buy below our means) but opted for a smaller down payment to hang on to our cash. We also bought a house that, at the time, was 30k under the comparables since we felt it would depreciate at least some.
It frustrates me that in order to have a country for my son to live in, that we have to let ourselves be completely and utterly financially raped in the process.