The housing crash has left at least 11 million people in the unenviable position of owing more on their homes than they are worth—and many more millions with properties worth far less than they paid for them.
But some might not be as trapped as they think.
This article is a reflection of the new mindset of the American consumer. Frugality. Savings. Debt reduction. Those are things that we just didn’t do during the 1980s and 1990s and 2000s. Paying down debt was trumped by the returns one could get in the stock market.
Not any more.
