Yesterday The Wall Street Journal had an article titled "Debtor's Dilemma: Pay the Mortgage or Walk Away." Here is the link:
The article has a variety of statistics and views on the issue of "strategic defaults." As well, it discusses the legality and consequences of such.
I have previously written numerous blog posts on the issue of "strategic defaults." (Those posts can be found under the "Real Estate" category listed along the right side of the home page). "Strategic defaults" is an exceedingly important concept for a variety of reasons. Like many economic issues, it is a very complex topic dependent upon many factors. I find the topic fascinating.
It should be very interesting to see the course of "strategic defaults" as time progresses.
SPX at 1096.08 as this post is written