Underwater? Wait a While

摘要

Almost 25 percent of U.S. homes are now worth less than their mortgages. But that doesn't mean they re bad investments. AT LAST COUNT, AN ESTIMATED 10.7 million residential mortgages - almost a quarter of all home loans in the U.S. - were underwater, meaning that the property was worth less than the amount outstanding on the mortgage. This is a legacy of the housing and credit bubbles: with every underwater mortgage, a potential default and foreclosure. As the number of such mortgages has grown, more and more borrowers have simply decided to walk away. That seemingly reckless move is now not only tolerated but encouraged - even among those who can afford to make the payments. I've recently read articles in the mainstream media suggesting borrowers will come out ahead if they stop making payments on underwater loans. But does this make sense from a purely economic point of view?