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Housing Prices always go up — not really

On my previous post titled Scary Housing Bubble Mortgage Calculator, Frishack posted the following comment that I wanted to reply to publicly.:

The fact that you may be upside down for a few years does not have any effect on what you are paying monthly, so just ignore the market ups and downs, and in the long run real estate always goes up.

This is a common line by Realtors and mortgage lenders. I disagree with it completely.

Read this entire article at the housing bubble site.