Housing Trap

Bankruptcy statistics as complied by the US Government are here.  It appears from the data that bankruptcy filings are down by 13%.

The Huffington Post reports that approximately 22% of homeowners are underwater.

Some of the housing trap is the misguided dream of owning a home.  I still say it's smarter to rent.  You can make your own choice by looking at ChartPorn.

Younger couples discount the future more and are more prone to buying a new car, having children, and buying a home.

Still, some of the predatory lending created by a moral hazard contributes to some of the housing trap.

I think people overvalue their worth too and buy a big house because of their false valuation of themselves.  Most couples sign a 30-year mortgage.