I wouldn't go quite as far as "messed up" but between 2003-2007 I was frequently hassled by people to "buy a house" because it "never goes down (much) in value." I argued that that was a nonsensical claim, although over the previous 30 years it was pretty much true (the UK dip in the early 1990s was quite short and localized). In mid 2007 I noticed prices continuing to go up and up and bit the bullet. Naturally, I ex…
The bank and you made a mutually beneficial contract: the bank loans you money, and in return you promise to give them back their money plus interest or your collateral. If you've elected to assign a moral value to one of your options, it can only hurt you.
I've never done this myself, so definitely make sure you know what you're getting into.