As a recently newly minted homeowner who paid appropriate price in a non-bubble market I find the title highly offensive and hyperbolic.  "Why are underwater homeowners idiots" is the appropriate title.<p>Re: article itself.<p>There's also the small matter of jacking your credit for 7 years.  With uncertain future and no savings many people rely on access to credit for emergencies.  Not saying that is wise or that they should, but that is a fact.