Well I would say that for most people a home rates a bit higher than fancy computer peripherals or nice cars in priority as well as cost. (obviously not for everyone, I have seen a Corvette parked out in front of a single wide trailer) 500K for a 2 bedroom starter home in SoCal...
Don't get me wrong, I haven't purchased a house either and by the looks of it probably never will be able to...stagnant salary, 60K in school loans, and a collapsing lending industry. I suppose it comes down to some kind of a morality question...Who is at fault the predatory lender or the gullible borrower? Obviously accountability for action is important, and that in some ways implicates the borrower, however if you dig a trap for someone is it their fault for falling in? Are soldiers at fault for not being on point enough to not step on a landmine? If you think so than I would venture to say that opinion is a wild oversimplification that doesn't take into account anything other than the observer.
Now some people are attempting to use the foreclosure of peoples homes as a means to disqualify their eligibility to vote.
The Macomb GOP’s plans are another indication of how John McCain’s campaign stands to benefit from the burgeoning number of foreclosures in the state. McCain’s regional headquarters are housed in the office building of foreclosure specialists Trott & Trott. The firm’s founder, David A. Trott, has raised between $100,000 and $250,000 for the Republican nominee.
The Macomb County party’s plans to challenge voters who have defaulted on their house payments is likely to disproportionately affect African-Americans who are overwhelmingly Democratic voters. More than 60 percent of all sub-prime loans — the most likely kind of loan to go into default — were made to African-Americans in Michigan, according to a report issued last year by the state’s Department of Labor and Economic Growth.