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Thread: The U.S. Housing Crisis: Where are home loans underwater?
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Old 09-01-2013, 08:21 AM
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Originally Posted by Bay Kid View Post
I have been in the real estate business on the Chesapeake Bay for 38 years. This has been the worst I have ever seen. So many bank owned properties. This hardly ever happened until 3-4 years ago. Why would banks loan money to people that they know couldn't pay? On the good side sales are up and prices are level.
It was all about our "friendly" government wanting everyone to own a house even if they couldn't afford it.

This whole economic collapse was because of this.
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