Strategic Default
#1
Strategic Default
This is an interesting phenomenon that is at once sad and troubling. I never thought I would live to see the day when one's home is similar to an old car or an old pair of shoes.
More see walking on mortgage as viable plan - Business - Real estate - msnbc.com
More see walking on mortgage as viable plan - Business - Real estate - msnbc.com
#3
In a sense, it is just like getting a margin call on an investment gone bad-the wise let it go and take the easy loss. There is a lot of deflating left to go both in the housing market and bad paper held by banks. This will take years to play out.
Before it's all over we are going to see cities, states and countries in strategic default. What has happened so far is fairly mild by comparison.
Before it's all over we are going to see cities, states and countries in strategic default. What has happened so far is fairly mild by comparison.
Last edited by jungle; 12-20-2010 at 09:05 PM.
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