I check into this thread from time to time. I think it's a great one and glad it has legs.
I just want to comment quickly that I completely disagree on the matter of strategic default. I have encouraged several friends to do it in recent years (some have). I got out of RE in 2007. Yes, I saw the crash coming. I am close to getting back in.
Regarding this strategic fault matter..... It is a financial and business transaction, not a moral one, IMO. I read this little paragraph recently and it sums up my thoughts nicely:
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"Strategic default has been portrayed as immoral by lenders. This is wrong. Lenders were immoral when they abdicated their responsibility to sound lending practices that ensured their borrowers could remain solvent. It is outrageous after such irresponsible lender behavior that lenders have the nerve to chastise borrowers for being immoral when borrowers fail to repay their debts."
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It's a 2 way street. Don't "sell" or finance an asset-backed/collateralized asset if you aren't willing to take it back.
Greg, again, great thread and it's obvious this is helping many here either directly with data, or indirectly, with the motivation and stimulation to get working on investments and retirements.
