[jrp]

Residential real-estate - what a scam. If it goes up in value, pocket up to $500K tax free. If it goes down, walk away and try again in a few years or wait for a bailout from the government. Privatized profit, socialized risk. The hallmark of a free market. /sarc

[balls]

The government doesn’t bail-out these real estate gamblers, many of whom are “flippers”, that land up in foreclosure, we the taxpayers do.

[Notary Sojac]

I really don't place too much blame here on the "homeowner" who walks away from a mortgage. If the lender fails to carefully pre-qualify a borrower, tough noogies, let 'em fess up and take the writeoff.

Now if the lender wants a taxpayer bailout, they can go aim at a rolling donut.