Desperate house buyers increase foreclosure risk

Another news article detailing the perils of the current housing market. Having purchased our place three years ago I don't mind the insane appreciation - but at the same time it scares the heebies out of me.

The statistics suggest that many home buyers are stretching their budgets well beyond their means. The risk is that recent buyers have such minuscule equity in their homes that if prices fall, they could owe more on their mortgages than their homes are worth.

See: Desperate house buyers increase foreclosure risk - Yahoo! News