[lbo-talk] Obama defends Republic workers

Carrol Cox cbcox at ilstu.edu
Mon Dec 8 05:22:59 PST 2008


Doug Henwood wrote:
>
> On Dec 7, 2008, at 11:14 PM, Joseph Catron wrote:
>
> > What does the depreciation
> > of a home's value have to do with its owner's ability to continue
> > mortgage payments?
>
> It lowers the willingness, not the ability.

It would also add a complication were they to want to refinance for any reason -- either ability to pay _or_ to finance home improvements.

Carrol



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