Strategic Default as the New American Dream

Remember the days when we had grand public works, when people worked at one job and were rewarded? A corporation actually cared about their employees? When buying a home was the ultimate American Dream?

That dream has been replaced with strategic default on one's home, praying the onslaught of foreclosures allows you to live rent free for a long period in order to not be homeless. According to Fannie Mae, 27% of negative equity homeowners think it's ok to walk away from their mortgage. Who can blame them when only individuals consider the ethics and morality of a contract these days?

 

 

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