Quote:
Originally Posted by Shipping up to Boston
Hopefully it doesn’t end up like ‘08....lot of young people back then bailed and left the keys in the front door on their way out
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The big and important difference now is that buyers have to actually qualify for mortgages.
I could see that mess coming when all that was going on. I am not an economist. It was so obvious.
Money was too damned cheap and easy. Mortgage brokers were allowed to run amok with drive-by appraisals and stated assets loans. Then came the derivatives. That whole ugly mess was the result of pure unrestrained greed — all around.
Boomer