OK, that’s an exaggeration — they appear to have done a short sale, not a walk-away.
Ironic Hypocritical Headline of the Day:
CoStar Group buys downtown Washington building for $41.3 million, far below the $79 million the trade group said it paid in 2007
Didn’t the National Association of Realtors do something similar last year?
UPDATE February 8, 2010, 1:54pm
A friend writes to remind me teh MBA CEO is a hypocrite:
Courson, the CEO, was big on underwater borrowers’ responsibility to continue paying on their loans if they could afford to do so.
“What about the message they will send to their family and their kids and their friends by defaulting?’ he said in a late-2009 interview.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.