It seemed apt to post this article that just came out, given that it relates to our discussions at the beginning of the class. I found one quote in the article to be particularly striking:

"Though it is hard to prove, the CoreLogic? data suggest that many of the well-to-do are purposely dumping their financially draining properties, just as they would any sour investment.

“The rich are different: they are more ruthless,” said Sam Khater, CoreLogic? ’s senior economist."

Is ruthless the right word? Or is pragmatic better? Mr. Khater seems to be implying that one is bad or cruel for acting in his own self interest. Thoughts?

-- DavidGoldin - 09 Jul 2010