Well, it’s sad, but this is what buying a home is.
My father bought housing for years, and I’ve grown up since the 70’s understanding this. Houses go up, they go down, and sometimes in drastic drops, often reacting to something weird the government has done.
They are expensive to maintain. They can be a disaster, or it can work out. If you speculate, the odds are there are times when you can make great money and there will be times where you get stuck maintaining (and paying taxes on) a black hole.
Speculators I have no sympathy for. That’s the deal, it’s not a game.
Homeowners, that’s really tough. I remember during the Carter and Reagan years almost everyone I knew got stuck upside down in a mortgage. Some walked away, some stuck it out.
Our first home (24 yrs ago?) was financed at 14%. We lived there 4 yrs and lost money when we sold it to move to a larger place which was 1100 sq ft. lol
We lived in that second home 10 yrs and didn’t make a dime on it when we left, sold it for exactly what we paid for it.
We have been in our 3rd home almost 12 yrs now, 3 more yrs and it is paid off.
Real estate is not a guaranteed investment and I really have no sympathy for anyone who is upside down or ready to lose their home. We did everything the right way and I don’t want to help pay for anyone else whether they bought more than they could afford, have a change in circumstances, or whatever reason.