As a homeowner you didn’t cause the financial crisis, and you didn’t cause the housing bubble or the inevitable bust. You bought a house you thought you could afford at the time, but we’re very unlucky in your timing. This article discusses how banks and the government were using housing to recover income lost to crashes in other sectors of the economy. It is not your responsibility to ensure banks make money. It IS your responsibility to make sure you can provide for yourself and your family in the future. The article makes the case for walking away away from your mortgage to make sure you can.
Also see this article about how Florida ranks number 2 behind California in number of households that spend at least half their income on housing costs.