A loss of $300,000 is no big deal to you? Dude? 687 / 418 = 60% What you bet isn't really in evidence is it? But I will concede there was a spike before the collapse. End story my mother purchased her home for $100,000 and sold it for $120,000. That's a fact. It's an anecdote but it's a fact. The loss of value is real harm no matter how you try to spin it.
BTW: I'm always amazed with this kind of apologetics. It's as if we are in the twilight zone and all the misery we thought went through we didn't, it was minor... oh, but blame Obama anyway... odd.
You know, it just occurred to me. In the past ten years I've spent a hundred grand on rent. It's gone money never to be recovered and in the next ten years I'll spend another hundred grand, unless of course I loose this place, then I'll spend even more. So comparatively speaking, your mother is making out way better than me and i highly doubt she was complaining as she watched her investment skyrocket in value during the run up.
So why don't I buy a house, I hear you asking yourself. Well, houses around here ( Victoria BC ) start at about 650K. There was no bubble bursting and real estate is still increasing. There's no way i can handle the payments on a mortgage anywhere near that size even with my wife and I working full time.
Obviously I can't blame the banks for real estate prices, hey I live in a very desirable location it's not my fault that the whole rest of the country wants to live here. I can blame myself for not getting into the market in the 1980s when prices weren't so retarded, when you could buy a house, a reasonable house, one you'd want to live in, for a hundred grand. Had I done that, had I actually gotten the house I put in an offer in on back in 1984, I'd be looking at well over half a million in equity right now as well as living rent/mortgage free. My offer wasn't accepted BTW and I never pursued owning real estate when I later moved to Vancouver where a crackshack ran about 400K, and a one bedroom condo, about 150K.
All my wife and I can do is bide our time waiting for people to die so we can get some inheritance cash and maybe get into the market....or move to the boondocks and spend 3-4 hours a day commuting.
So, relatively speaking, you mom did well.