An interesting piece in Bloomberg quotes the great investor claiming many property owners remortgaged at the top of the market and managed to make a profit when they tossed the keys back to the lender and walked away.
“In these cases, the evicted homeowner was the winner, and the victim was the lender.”
His comments - made from the perspective of an investor left highly exposed to the mortgage market - have been criticised as "mercenary" and failing to recognise the human side of the eviction crisis. It's an interesting piece, and recommended.
Technorati Tags: property, real estate
