Over the past few months, arguments have raged about whether it is “immoral” for homeowners to send banks the keys to their houses and walk away from mortgages that it doesn’t make sense to keep paying.

Regardless of which side of this debate you’re on, note that experienced professional real-estate owners don’t even consider this a question.

Tishman Speyer and BlackRock Realty, the owners of the huge New York residential real-estate complex Stuyvesant Town, have decided to hand over the keys and walk away, dumping the property on lenders who provided some $4.4 billion in loans.

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