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« Why Did the Mortgage Crisis Happen, Part 4 | Main | Business Opportunities: Avoid the Glamorous »

May 11, 2008

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Comments

Wayne Pruner

Interesting series Bill. The secuitization part is a bit above me. I seems that smart people were just trying to out smart other smart people to find another way to make a profit. I think part of the current problem originated because the pool of qualified buyers had shrunk and in order to keep profits coming in, the pool had to be expanded by dropping lending standards. Surprise! People who had a history of not paying their bills were defaulting on their mortgage. Sub-prime loans were not all bad. Many people who would not have normally been able to buy a house, are now making motgage payments and have a piece of the American Dream. Mortgage types thought that appreciation would keep being double digits and cover over all questionable loans. Appreciation of that magnitude for any extended period of time would have put us in a far worse mess than what we are in now.

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Jules Carney

I was actually glad to come throughout your post now. It really helped me make sense of some of the consequences I was having with the subject.

Thanks for sharing!

Idaho Real Estate

Why did the mortgage crisis happen? Simply google President Bush's state of the unions in 2002, 2003 & 2004. He wanted all Americans to have the American dream of home ownership. He mandated Freddie Mac and Fannie Mae to eliminate down payments and ease credit requirements. The result is a historic housing collapse in this country. Many will argue with me but this did not happen during the Reagan, former President Bush or the Clinton Administration. This happened during George Bush's reign and it is just one of his many blunders that have left this country in economic hardship that has not been seen since the great depression.

Grafton MA Real Estate

Much of the issue stems from the fact that the mortgage programs that were in place should not have been offered to begin with. Mortgage products with no money down were offered much too easily to anyone breathing. These products were made for people to fail.

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