I finished reading a wildly popular book I bought at Costco called “The Big Short” which details the multi-billion dollar bets hedge funds made against the housing market. I also finished a University of Arizona professor’s study whether “underwater” homeowners should make a business decision to walk away from their homes (a “strategic default”).  If Morgan Stanley can walk away from 5 office buildings it bought in San Francisco at the height of the market, why can’t Joe and Mary Homeowner do the same thing? Read more in my newsletter.