Where I live (Murrieta) there should be a spike in walk-aways, defaults, foreclosures etc. this summer.
At least one of my neighbors has been in default for a few months but won’t move out until the semester is over and the kids are finished with school. Of course he bought a new car which I guess is what one does before bankruptcy these days.
This summer will be the summer of $5-6 gas and many, many defaults.
