All those poor black people who didn't read the fine print on their balloon mortgages and ARMs are screwing everyone! IEEEEE!
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.
Why does reality hate rich people?