Underwater?

Here's an article from the NY Times about a city in CA where 90% of homeowners are underwater. The housing crisis has sure hit California hard. Still, it's hard to feel too sorry for some of the people:

"He has cut his DVD buying from 50 a month to perhaps one, and is waiting until the Christmas sales to buy a high-definition television. He does not indulge much anymore in his hobbies of scuba diving and flying. “Best to wait for a better price, or do without,” Mr. Rogers, 52, said."

Wow, what hardship. I'm sure your personal choices have nothing to do with your household balance sheet. 50 DVDs a month...?