Being able to get a loan to buy a home in the past doesn't imply being able to afford to own it now, especially if the loan was an ARM, had an interest-only or negative amortization period, etc. (but even with a conventional fixed mortgage, financial situation can change for the worse after buying.)
This or not, having a house is pretty far away from "misery" in my book. At least you've got a roof over your head and no landlord to price you out of your home into the streets.
