[quote=sdrealtor]I have a term for them also and it is what I call “home owners”. Imagine that?[/quote]

Yes and those who held shares in AIG, Bear Stearns, WM, WB, FNM, FRE and GM were once called shareholders. Unless you can say we’re out of the clear on further deflation, increased unemployment, no bond market dislocation or further financial credit collapse (Right!) then even with 20% down those people are likely to end up underwater or worse without even neutral cash flow and underwater. All of the above are commonly considered knife catchers.