There are a still few regions where foreclosure is never discussed beyond the immediate family, but it's less and less often due to the morality issue. This, I believe, is the beginning of the fourth and last wave of home walkaways.
We don't condemn bed-smokers to suffer the consequences of their risky behavior because the fire can spread. If we want to stop the spread of strategic defaults, principal writedowns are the most effective option.
A Trulia/Harris survey in 2010 found that 57% of men would consider strategic default, but only 40% of women would. In the real world of mortgage default, where walkaways are far more often for survival than strategy, I found the opposite.