I guess I'm wondering what happened to people actually understanding the value will come back AND where did this country go? Last housing downturn people valued their debts and stayed with what they purchased and hunkered down thus making it much less of a painful drawn out end of the world type thing

This is what I really am shocked with, but beyond this everyone shares blame for being greedy and the banks should be more willing to negotiate vs taking a 50% hit on a REO

I've been looking In Rolling Hills Ranch, a master planned upscale community in Chula Visita, I looked at 5 homes, all over 3800sq ft, all sold for 1.2-1.5mil in 2006 (development from 2006) now their in the high 6's to low to mid 7's, BIG drop

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The Present:
2014 Audi Q5 TDI Prestige
The Past:
2013 Lexus GS350
2013 VW Golf TDI
2007 BMW X5 4.8i LOADED & Loved
2009 VW Jetta
2008 VW Touareg VR6
2005 BMW X5 3.0i
2005 BMW Z4 3.0i
2004 BMW X5 3.0i
2003 BMW 325i
2000 Ford Explorer Eddie Bauer 4x4