"The government was encouraging people to buy, telling people that it was a good investment to buy. Real estate agents pushing people to buy, banks pushing people to buy," White said in an interview. "And then when the market collapses, the homeowner alone is left holding the bag and forced to bear the burden. And so I think we need to talk about the disproportionate burden that is falling on homeowners."
In The AZ Daily Star, Josh Brodesky has two good articles on the pros and cons of walking away from your home. They’re based on the controversial thoughts of University of Arizona law professor Brent T. White who offers a rationale for doing so.
Josh Brodesky: Maybe more need to walk away, prof says
11/22/09
Real estate: Our readers weigh in on walking away from a home 11/29/09
