Short Sales

So I had two clients tell me this week that they were thinking about doing a short sale and one tell me he was considering foreclosure.

All of these clients make over $150,000 a year and have the money to pay on their mortgages, even though they are paying two mortgage payments.
They have just figured that their house value has gone down so much that it would take YEARS for it to come back in value and they are better off letting it go.
Seriously?? Is that the mentality now people? You want to just ruin your credit by having it go down 200-400 points ( which by the way a short sale is just as bad for your credit as a foreclosure is ) so that you can pay out the butt through higher interest rates bc no one will want to loan you anymore money.
Also, not to mention, how wrong it is to walk away from an obligation. If perfectly capable people start walking out on their mortgages this economy is going to have some MAJOR problems in our banking system.
What do you think?