Article On Strategic Defaults

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.

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SPX at 1097.60 as this post is written