[bananaface]

Getting a mortgage isn't purchasing a home, paying off a mortgage is purchasing a home. The bank owns your home when you get a mortgage, and they have the right to sell if you miss even your last payment.

If the housing market crashes 30% tomorrow it'll bankrupt everyone who signed on for a 30-year mortgage in the last 10 years, unless they've overpaid substantially. Very few leveraged first time buyers who bought since 2008 own their homes yet.