Anyone care to borrow money at 7% to buy a depreciating asset?
Then sign up now for a mortgage on any Vegas property. You'll lose 50% of your principal within 3 years easily. But, if you are lucky, by then the FED might come up with a realistic bailout for you that doesn't involve absurd PMI payments or abandoning your equity rights. Best of all, you have a 90% chance of having TENANT neighbors - the sort of human riffraff that belongs in Guatemalan trailer parks but gets to live way beyond their means thanks to the blind stupidity of their landlords who prefer to sit on money pits and chase losers for rent rather than cut their losses and run to FDIC insured CDs.