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The bank doesn't care as long as you make your payments they are happy.
I dont see a big correction atleast in Southern California.
Take the average household.
Man earns $30k and Woman $30k.. For 60k total a year...
That means they can easily afford 2k a month house payment as one of them will earn that much by themself.
2k a month house payment buys you a 375k home, not the best but a doable one here.
I think we are getting close to maxing out the dual incomes now though as the avg home price is over 330k I believe.
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