The median nationwide value of a home is largely irrelevant -- the problem were select inflated markets, and the deflation to the median is exactly what precipi

The median nationwide value of a home is largely irrelevant -- the problem were select inflated markets, and the deflation to the median is exactly what precipitated the problem. Markets like Dallas or NYC or San Francisco account for many billions in debt. Further we know that the real cause of the crash wasn't just those bad loans, but outrageous bets the big players made on them (effective multipliers). I'm neither selling the doom scenario or not, but a lot of what you wrote has to be evaluated under the reality that the US has historically low interest rates, which are just finally starting to edge up. This despite full employment and a roaring economy. And despite all of that (those completely atypical rates being used to make long term commitments), mortgage delinquency remains higher than it was at the outset of the housing crash.