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Does Financial Strategy Trump Ethics When it Comes to Home Ownership?
The question of financial strategy and ethics apparently are polar opposites when talking about home ownership according to Jean Chatzky on the Today Show this morning.  A short piece ran this morning showing the growing number of homeowners who aresimply choosing to walk away from their homes because the home value hasfallen to 75% of the amount owed.  They have made this choice based on financial strategy,or as Jean Chatzky calls it, "strategic default".  When asked by Matt Luaer if this is an ethical decision, her response was basically that ethics has nothing to do with the decision.  It is a financial decision.  Bear in mind, many of the people walking away from these homes can make the payment.  They have simply chosen not to because it doesn't make sense to them financially.  Well, excuse me! 
First of all, real estate investment is not a guaranteed profit.  Sometimes you win and sometimes you lose.  I've often heard it said that you make money on real estate whey you buy it, not when you sell it.  In other words, if you're looking to make a profit, make darn sure you're buying low and you can hold on to it for some time. 
Secondly, ... more

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