The strategic defaulters (a large proportion of the defaulters in SD) who are living for free are saving cash and have demonstrated a propensity to spend it. Do you think they are going to “shack up with someone” while rental prices are significantly depressed? Of course they are going to rent and then buy again just as soon as someone is willing to loan them the money. Unless they leave the state they are going to be a factor. Who knows they may end up buying their own houses back for 50% off with cash after socking it away all these years. Let’s face it these people are not only getting a free ride they are reloading and getting still further ahead of those who “play by the rules”.
