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Real Estate
Reply to "What I don't get: When people complain that they are drowning because their house is underwater"
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[quote=Anonymous]I'm still cracking up over the pp who thinks that losing a job in this economy is an "extraordinary" circumstance. Do any of you ever leave DC, ever??? But, since the subtext to this post is the presumed moral corruption of those who strategically default, my understanding from the reports I've read is that strategic defaulters account for maybe a quarter of all defaults. That is, admittedly, bad for the economy as a whole and a rotten thing for their neighbors but it still means that the vast majority of those who default (whether underwater or not), are suffering from "extraordinary" circumstances. The presumption, therefore, should be that unless told otherwise, the defaulter/underwater person is in a pretty terrible situation. [/quote]
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