On mortgage giant Freddie Mac’s blog, “Featured Perspectives,” executive Don Bisenius takes on strategic defaulters — underwater mortgage-holders (that is, homeowners who owe more on their mortgage than their home is worth, meaning that if they sell their house they will still owe the bank money) who chose to More…
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…
Just in time for your holiday listening pleasure, here are two songs making their way around the blogosphere to celebrate the season and mark another year of falling home prices and an expanding commercial real estate bust.
First, via Mortgage Insider, here’s “The Twelve Months of Default,” which More…
rss