I'm still not convinced of this. At least not among people who live in their houses. If you're not planning on moving, an underwater mortgage isn't a "problem"

I'm still not convinced of this. At least not among people who live in their houses. If you're not planning on moving, an underwater mortgage isn't a "problem" unless you lose your job, or have an other emergency. I don't think these people have a strong political view on housing prices one way or the other. People with INVESTMENT properties though...that's a different story.