I'm No Realtor But This is My Take

There's a new concept in finance lately, and that is the idea of being "upside-down" on your home loan, owing more money for your home than it's worth. I think this is a ridiculous idea and a stupid reason to be alarmed. The fact is, home "values" fluctuate so widely that maybe up to half the time, you ARE going to owe more than your home is "worth." Wah, wah, stop yer whinin' about being so-called "upside down" on a home loan because whatever you could re-sell your home for at any given point is for just that: a given point. It could be back up 50,000 dollars tomorrow (not likely though, eh?).

All I'm saying is that you KNOW when you sign all those trillion papers for a mortgage and home purchase, that you are agreeing to a pretty arbitrary price and that's the amount you're going to be on the hook for, for the next 30 years. I declare the following statement to be true: THERE'S NO SUCH THING AS BEING UPSIDE DOWN IN A HOME MORTGAGE, THERE'S ONLY BEING ON THE HOOK FOR A CERTAIN AMOUNT.