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[pedanterast]

This article was an interesting read and touches on some of the things we've talked about in other threads, like "jingle mail."

http://www.msnbc.msn.com/id/45221933/ns/business-us_business/#.Trq3O_KfmaM

[madhatter]

I have a lot of sympathy for many people caught in the current squeeze -- many distressed homeowners among them. I find it hard to muster much sympathy for this guy. He bought well above his means with a 0%-down loan, then refinanced to an Option ARM with negative amortization. Some people got screwed while making prudent choices, but this guy is not one of them.

[hegemony]

He came clean -- good for him. 

"As I ponder all this — and I think about it a lot — it occurs to me that we are a nation of risk-takers. Some of us were overoptimistic; some were ignorant; some were deluded; some were greedy; some just had bad timing. We erred to different degrees. Our experiences varied; each story is different. Now you know mine."

I applaud his candid approach and I think it helps us think about the psychology of buyers that contributed to the melt-down.

[madhatter]

He came clean -- good for him. 

"As I ponder all this — and I think about it a lot — it occurs to me that we are a nation of risk-takers. Some of us were overoptimistic; some were ignorant; some were deluded; some were greedy; some just had bad timing. We erred to different degrees. Our experiences varied; each story is different. Now you know mine."

I applaud his candid approach and I think it helps us think about the psychology of buyers that contributed to the melt-down.

He's trying to sell a book. I'm not going to give him a gold star for his public service.