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Compare this to the (once upon a time) conventional wisdom that buying a house with a mortgage is a sure bet because housing prices must go up. I'm not saying you're wrong, I'm saying I don't know. Unprecedented times can result in unprecedented outcomes.

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Doesn't this really only apply to variable rates that people thought they could consistently refinance as their homes value went up? If you have a set rate you'll just pay the same monthly payment for 30 years, I don't see how your homes value would really affect you unless you had to move and sell at a loss.

My point is that financial assets are practically always more complicated than conventional wisdom belies.

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