Home price depreciation leading cause of mortgage default

This is interesting, back in 2007 I was counseling banks and mortgage companies that we'd changed valuations as a new more disposable society. Normally people defaulted on their CC's before their home. In this new phase the opposite occurred. Now many people I talk to who are upside down see the long term investment and just tell me I'll just hold on until the values come back up. Evidently from this article many people, not all, but many are just quitting. Many may be the investors I saw buy crazy multiple properties who are just dumping the stock. In the article is says some people are giving up that can make the payments. Unfortunately the housing market isnt like the stock market, no one gets hurt if you dump a stock you own.

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