Strategic Defaulters Are Not Mortgage ‘Deadbeats’
By Annie Lowrey |
04.23.10 | 5:01 pm
Bloomberg News’ Caroline Baum has a tart piece on strategic defaults and consumer spending — invoking the theory, first put forward by HousingWire’s Paul Jackson, that underwater homeowners are purposefully defaulting on their mortgages and using the funds to buy regular goods. That would explain why consumer spending More…
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