To take his worste case scneario - just for analysis - then there is no simple solution. He said something like: getting out of debt means taking tough decisions.
I take that to mean (and I am only trying to think like him) that if you had a big mortgage and you may end up being one of the unemployed with little hope of paying off that mortgage; then get out of debt now, while you can. Because soon, your house price will fall and you will be out of a job.
In this case, then you would be better of selling your house and sticking any money left over somewhere else and going to live somewhere else. But remember, its a hard road, so that somewhere else may be a relative's place and not a rented house.
Please remember, I am only trying to present an option that Keen may be thinking along the lines of and based on his worste case scenario. I am presenting an "if . . . then".
So IF unemployment hits 20% and house prices drop THEN get out of debt now, no matter how hard that may be.
So THAT is one way of getting out of debt IF your debt is your house.
I acknowledge that IF house prices don't fall and unemployment DOESNOT reach 20% then this may not be a good thing to do.
