Housing: The one bailout America could really use

[Mike Andrews]

Has anyone else read this?

Housing: The one bailout America could really use

Definitely interesting. From the article:

"On top of the 2.5 million homes that have already fallen to foreclosure since the bubble burst, another 4.5 million mortgage holders have given up paying and are likely to lose their homes, she calculates.
'Shareholders of the world unite'

Millions more are underwater -- owing more than their home is worth -- and may give up if things don't improve soon. All told, Goodman warns that more than 10 million of the nation's 55 million mortgage holders could default by 2018."

Anyone have any thoughts on how likely this is? I know there are a lot of BofA homeowners that have stopped paying because of the lawsuits, etc., but this number seems a little crazy.