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More Housing Idiocy

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February 01, 2010 – Comments (1)

Do I not know how to leave well enough alone? Or is there legitimate reason to continue mulling over the impact of more defaults on the housing market and economy?

Either way, I went ahead and posted another article today that looks at the broader impact of these so-call "strategic defaults."

My hope was to step away a bit from the question of morals and look at what might happen if more people for whom defaulting made financial sense actually put on their walking shoes. Of course, this may not matter because, based on the comments in my previous article, the situation appeared to be very black-and-white to many, so even if more defaults may help us get back to a truly steady-state economy, people who can afford their mortgages still shouldn't walk.

Matt

1 Comments – Post Your Own

#1) On February 01, 2010 at 3:57 PM, ocsurf (< 20) wrote:

I know people who are so far underwater and they can barely afford their mortgage. They bank won't help them so they're walking away. I don't fault them for that.

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