This headline struck me: Nearly 1 in 6 Home Owners Under Water
Why is it that one must always have positive equity in a house? Renters have no equity and will never get it. It will always be zero. But even with negative equity home owners will one day "own" their home and be "rent fee" - as long as they can meet the monthly payment and pay off the loan.
Most car owners owe more than their car is worth. The decision to buy and then keep a car is usually if they can meet the monthly payment. And if financial crises hits, most people just stick out their payment and drive their car for years until it is paid off. Why isn't a house the same way? Is having positive equity in your home some sort of right that should be guaranteed?