Thomas Ramey Watson

Rich have stopped paying mortages at rate much greater than the rest of the population

This is a reference to this New York Times story:

…Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.

More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic….

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