0
This question is very general, but I will assume you're referring to the "walk-away" phenomenon that has arrisen from the mortgage meltdown. People are doing something they have not done in recent history, and that is to consider their homes from a business perspective. For people who bought a home for $400k and similar or better homes are now worth $200k, there is no forseeable point at which this will become a positive investment. They can't refinance, they can't sell, they can't move. And many of them streched their budget to get in the door in the first place. It is worth the damage to credit to get out from under a bad investment and either use family to re-purchase a home at the lower price, or wait a few years and buy another home. Those who purchased at market peak will see the home as a major debt that negatively impacts their current situation and their economic future more than the effects of leaving the home.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Why do people need homes?
People need homes because of the necessity for shelter.
How many people don't have homes in the world?
3.5 million
What hapens to a country when people leave?
nothing
Why do homes go on auction?
People cannot afford to keep on paying for them (mortgage, etc.)
How did American families live during the great depression?
many people died and lost their homes
Do people in Ghana live in mud homes?
people in Ghana do not leave in mud homes
Why did people leave their homes and countries?
so they can have a new life
Demographic why do people leave Bangladesh?
Shortages of food and homes
Why didn't people leave their homes during hurricane Katrina?
people left there homes because of the high risk of death and floods
Why did Swiss people leave their homes to come to Wisconsin?
because they are holy
What is a sentence for impel?
Hunger often impel people to leave their homes in search of food.
Why do People leave their homes to move to another country?
because they might get tired of their own place
How old do dolphins need to be when they leave their homes?
they dont have homes
How do you make student housing cheap?
Students should live with the elderly to reduce the need for nursing homes and prevent older people from having to leave their homes
How does lightning affect people's homes?
When lighting strikes a home, it can leave the home with minor damage (which is rare) or it can leave it with major damage or total destruction.
Why did the Chinese leave their homes to come to the USA?
Chinese people left their home to have a better life in the USA
How do you use the word impel in a word?
Hunger often impel people to leave their homes in search for food.
