Rich Are Biggest Mortgage Defaulters By Far: <em>NYT</em> Study

Study: Rich Are Biggest Mortgage Defaulters By Far

LOS ALTOS, Calif. -- No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars.

The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in Silicon Valley.

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