tag:blogger.com,1999:blog-1864815735750729117.post8399963629261914636..comments2023-10-31T06:28:56.237-07:00Comments on The Housing Chronicles Blog: How many people would actually walk away from mortgages?Patrick Duffyhttp://www.blogger.com/profile/01418865588511944900noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1864815735750729117.post-50833716925282584962009-03-07T15:22:00.000-08:002009-03-07T15:22:00.000-08:00O.B. said the stock market is a great investment r...O.B. said the stock market is a great investment right before the market went down another 10%. First step, the govt is to stability the markets. They will assure you that the markets are sound right or my program will make it sound before the collapse. After the collapse that it's a great time to buy. Then repeat the first step.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1864815735750729117.post-33432910034338782102009-03-07T10:24:00.000-08:002009-03-07T10:24:00.000-08:00I guess this guy is saying that homeowners will no...I guess this guy is saying that homeowners will not walk because they will remain in denial about how bad their situation really is. He might be right.<BR/><BR/>IMO, the walkaway phenomenon is going to be driven by future expectations. As long as people believe they might not be underwater in a year or two, they will hold on. Once they fall way underwater, or if they come to believe prices will not come back for many years, a great many borrowers will walk, particularly if they can rent the same property for much less than their mortgage. The best thing that the government and the lenders can do is to continue to foster the fallacious idea that prices will rebound quickly; otherwise, people are going to walk away in very large numbers.Larry Robertshttps://www.blogger.com/profile/07551274023310137270noreply@blogger.com