I agree that it can be a blessing in disguise for some people who got over their heads and aren’t taking care of their longterm needs (401K, savings, racking up credit debt to buy groceries) just to pay their outrageous mortgage payment. But how realistic is it for people to qualify to buy a place in the future with foreclosure on their credit? And also how challenging is it for someone to rent a decent place for their family to live? A friend and her husband of mine has a bankruptcy on their credit from 6 years ago and still get turned down by some landlords even though they don’t have any late payments now and make enough money to afford the rent.