I ran across this article from U.S. News & World Report, dated 1/19/10 concerning “strategic defaults”:
The article is interesting in that it summarizes various facets of the “strategic default” situation and presents an interesting example of the dynamics that one “underwater” homeowner faces.
I have mentioned “strategic defaults” on numerous occasions. It is a very important “wildcard” in the residential real estate equation.
SPX at 1097.60 as this post is written