The Rich Are Different from You and Me 0
From the Toimes:
By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.
Though it is hard to prove, the CoreLogic data suggest that many of the well-to-do are purposely dumping their financially draining properties, just as they would any sour investment.
“The rich are different: they are more ruthless,” said Sam Khater, CoreLogic’s senior economist.
Via John Cole, who wonders
how Republicans (will) try to pin this . . . on black people and Fannie Mae and Barney Frank.
