I guess I’m old-fashioned if I believe you have a moral obligation to pay back the money you borrowed to purchase a home. Maybe that feeling is destined for extinction, but I don’t want to live in a society where people think they can get out of obligations that are simply too “inconvenient”.
Also, getting back to the theme of the thread, certainly the banks were enablers, but imagine a lender who didn’t use similar lending guidelines in the bubble market. There is no way they would have survived. It’s kind of nice to assign blame one way or the other, but this whole situation is much too complicated for that.
