Logical argument is a case whose prepositions can be demonstrated and
proven to be true, using available evidence and intelligent reasoning.
It involves verification of the truth from asserted propositions, based
on available data and reasoning (White, 2009). This paper aims at
determining whether there is logical argumentation in Mr. White’s
controversial essay ‘Underwater and Not Walking Away: The Social
Management of the Housing Crisis’, published during the housing
foreclosure crisis. The paper will outline the assertion made in
Professor’s White paper, and offer the evidence to support the fact
that there is logical argumentation in the essay.
According to the essay, many households are holding on to their
mortgages despite their drop beyond real value. This is propelled by
financial and emotional constraints, which often make them disregard
their economic intuition. According to Mr. White, may fail to walk away
from fund sinking mortgages owing to the fear, shame and guilt
associated with not honoring individuals’ financial obligations,
factors which obstructs rational financial decision. Others continue
paying mortgages owing to the erroneous advice from bankers and home
owners, which is always based on personal financial interests.
Additionally, failure to pay mortgages has some negative social impact
since nobody wishes to relate with deadbeats-those not able to pay their
mortgages. This has led to continued mortgage pay, despite the
mortgages’ economic irrelevance (White, 2009). The argument, about
factors leading to continued mortgage payments is logical since, most
residence cling to their mortgages despite making losses, to avoid the
negative social emotional impacts of not paying them.
From the aforementioned, Mr. Whites essay has a logical argument since
despite residents been advised to utilize alternatives methods to loss
making mortgages, they cling to mortgages. Records show that social and
emotional constrains are among factors leading to continued mortgage
payment, a sufficient proof to the argument that residents are unwilling
to walk away from mortgages.
White, B. (2009). Underwater and Not Walking Away:Shame, Fear and the
Social Management of the Housing Crisis. Arizona Legal Studies , 1-52.
LOGICAL ARGUMENTATION PAGE * MERGEFORMAT 2
LOGICAL ARGUMENTATION 1