So, yes, imo "the homeowners are screwed..."--they're the ones who
ultimately chose to get something they wanted at a short term price w/o
adequately considering potential long term costs...now, like life or
health insurance, that may be a risk they're willing to take, but, if
one's in such an area, it shouldn't take too much imagination to
figure out what could happen if...

They're screwed because they decided to abdicate their responsibility
for their own well-being, in favor of letting "them" decide what's
safe, what's not safe, where they should live, what they should want,
and what they should be offended by.

And they got what sheep always get.
That's what it's like being a serf.

And was it me, and I had a loan on such a house, I'd just
default. "Chase? You know that $400,000 property that
I pledged as collateral on my $300,000 loan last year? It's
yours now. Have a nice day..."


--Goedjn