If you saved enough to buy a house then live in your house.

If you're moving around then don't buy houses. They are places to live. Your problem is that you want them to be investment vehicles to increase your wealth. Well, if they are investment vehicles then you also have to accept that you will make a bad bet and will lose in value.

You want your cake and eat it too. It is like stock investors crying that Intel shares lost value. Well, then they shouldn't have invested in Intel, they should have put their money in a savings account.

Just the opposite! The migrant field worker who got a 0% down interest only loan on a 500K house is far less "deserving" of the screw than you, because he has no money to be screwed out of.

The housing "crisis" happened because people were getting large home mortgages. There shouldn't be people with large home mortgages. I interpret "large" here as bigger than they can chew. If they can't afford their home, they can't afford their home -- time to scale down to a small condo or start renting. Why are we proping up people with large home mortgages and rewarding their stupid buying decisions?

The end result is that nobody spends for anything that is not absolutely necessary. Hence most companies have an excess of supply: they fire people, and discount they current production.

Now that more people are out of a job and therefore can't spend much, and the discounts have driven inflation even deeper, even less people spend their money.

It's a vicious cycle. It's what's happened to Japan for the last decade, and it's not a pretty place to be in.