Couldn't agree more. 

I hear the same all the time from colleagues who bought in at the top this spring. Amazing the swift turnaround from boisterous enthusiasm about getting in "before being priced out forever" and looking forward to making "hundreds of thousands - guaranteed!" on their investment, to "there's no crash - CP24 old me!", "if prices do go down the government should bail us out", and "why are people wishing a crash on others?".

I take no satisfaction from others losing their shirts, but in order to restore some economic sanity, there will be collateral damage. I guess the positive I take from it that those who purchased with genuine intent will be able ride it out for the long haul, but speckers and flippers are the most likely to get stung.