What do you call that?
notice lpast is trying to imply some broader evil lurking below this. I mean, what are those who have enough to buy a house 10x over supposed to do to be "fair"? Just keep buying houses that way if the housing market drops, they lose just as much as someone middle class who invested heavily in their home? Makes no sense. All people should diversify if their goal is long term gains and they want to avoid short-term risk. That goes for anyone.
A lot of people who lost jobs in the downturn, could then no longer afford the house note. I'm pretty sure they experienced the liability.