January 2010

Renting: Wave of the Future

I have seen the recommendation to "walk away from your mortgage" cropping up everywhere lately.  It sounded like fringe advice at first, but now I have seen it advised by financial advice celebrities like Suze Orman, and most recently in a New York Times article.

In fact, the Times is running two renting-positive articles at the same time - one recommending that homeowners stuck in an upside-down or "underwater" situation with their mortgage just walk away, and one exploring the stories of people (specifically men) who bought houses, came to regret it, and went happily back to renting.