[Z3guy]

The way I look at it, regardless how much the value my primary residence goes up or down in value, it is just a house I live in. I want to live in my general hood for the next 30yrs+, so all I have is a house in the area I like. You only capitalize if you sell your house and move to the far away burbs or somewhere else less expensive. Something I am not preparred to do. I would be totally happy if the market corrected because as much as my house goes down in % value, more expensive homes will go down similar %value. The people who stretched themselves buying multiple rental properties and took huge financial risks are the ones smiling ear to ear if they sold their investment properties recently.