I reckon when you are heading for negative equity, the glamorous property owning caper is no fun anymore, and you look like an idiot to your friends. In the USA in some states, you just mail your keys back to the bank. In oz some will simply lose interest and start paying late, or getting depressed about it and not wanting to pay, or will start spending more on pokies, sportsbetting and alcohol etc. Human nature for some to react in this way.
