Why not? Exorbitant means 'unreasonably high'. Is it strange that when paying $1k in mortgage payments to 'buy-back' 240k of value, that paying $1k to 'buy-bac

Why not? Exorbitant means 'unreasonably high'. Is it strange that when paying $1k in mortgage payments to 'buy-back' 240k of value, that paying $1k to 'buy-back' $150k in value can be called unreasonably high? Especially when suddenly you can buy equivalent property for much lower prices, and lower mortgage rates. And suddenly rent starts to look cheap in comparison to paying mortgage + the cost of $90k devaluation in a 2 year span. I can easily see how that can turn exorbitant. However, even that it turned exorbitant you're assuming. They may have felt it was unreasonably expensive in the first place, despite it being a good move compared to renting. e.g. if you live in a place like NY, some may consider everything and anything exorbitant, just a matter of perspective. It certainly seems true that the cost of housing as a portion of income and disposable income has been one of those things (like healthcare or education) that got cheaper over time, while other things (like most technology) got cheaper.