Okay. So at one time it was unheard of and looked down upon to walk. That was crazy talk. Now it seems acceptable, in fact, encouraged and crazy if you don’t. So my question would be: how many are going to? Are we looking pretty much at everyone who bought during the bubble that is upside-down? I mean, you know, I think it’s safe to say that every purchase during the bubble has seen minimum and conservatively 15-20% off peak price, even in nicer areas. Can we expect that they’re all going to walk?
I look, for example, at some condo conversions in UTC during the bubble and the NODs and foreclosures continue unrelentlessly – and that’s only what banks are bothering to file paperwork on. It would not shock me if eventually every single unit that sold during the bubble turns over.
