Quote Originally Posted by Hotboat View Post



I'm not even going to get in to the housing ATM fiasco. Very few people at the time believed the market would crash. The real problem is we've been trained to think our homes are simply an investment, when they are in fact, our homes. Your home is where you raise your family, not what you cash in on every time it gains a few bucks in value. Nuff said there cause its starting to smell political
This is the part that I completely agree with......we sometimes forget that all that $$$ came from somewhere....and that somewhere was not a bunch of hicks that didn't know better. It was from a very savvy investment community that like the rest of the folks thought that it was a good bet to loan that $$ because the returns were very good. Many of those loans were at 6-7% interest so they too were taken in with the opportunity and ignored the risk....because candidly up until that time said risk was very, very, very low......good synopsis HotBoat