Sunday, May 8, 2011

Another for the lexicon: "squatter's rent"

New, widely syndicated Bloomberg News article today introduces "Squatter's Rent" as a homier but unfriendlier word for what Ritholtz has been calling "strategic defaults." Both terms refer to people who stop paying mortgages so they can straighten out the rest of their finances.

Honestly. "Squatter" is a bit much as a term for people continuing to live in their own house.

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