I can't speak for most people, but I was young and ignorant enough to get talked into buying a home that I couldn't afford during the housing bubble. I managed to make it 5 years before having to foreclose. It was a terrible money pit and I'm in a much worse financial situation now than I was before I bought the house.

Before i bought the house everyone talked about how great of an investment homes were, but nobody talked about how expensive home ownership was and how much deeper in debt you need to get in order to fix a house up.

The funny thing is that I could buy a house but couldn't get credit or loans to fix the house up. Worst possible situation you can be in.

Even though the bank and realtor were liars and pushers, I don't blame anyone but myself for falling for it. I hope you take this in mind before you buy your first home