At the recommendation of a colleague, I started listening to an National Public Radio podcast called Planet Money.
And it was a pretty good 25 minutes of financial/economics news. It worked for me, a person with a limited understanding of GDP and secured creditors.
In the latest podcast, they talked with a real estate lawyer about "strategic foreclosures." She said that in 2008, clients were frantic about losing their homes. Now, more and more people have realized that walking away from their homes may be the best business decision.
So people are trying to get banks to foreclose faster. They are exchanging poor credit scores for affordable rent payment.
Here's an example on a much larger scale than a single-family home of a real estate strategic default.
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