8.    “Everyone is financially hurting so we are all in the same boat.”

First that is a generalization, not everyone is in a financial stress. In my opinion, the next couple of years may be the best opportunity to accumulate wealth long term as things, especially in real estate hit bottom or close to it at some point. Time to save your cash, tighten your belt, improve your personal credit score and get yourself to take advantage of the “fire sale” that may occur in the next two years!