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Fuck the housing crisis.
If you were stupid enough to take out an adjustable rate mortgage when fixed rates were at historic lows, then you're an idiot who deserves to lose their house.
If you were a bank who gave out mortgages to people with no credit and no income, you deserve to go bankrupt.
If you were an investor who bought commercial paper backed by subprime mortgages, you deserve to lose your money.
If you bought a house after prices had double digit increases for several years because you thought prices would keep going up at that pace forever, then you're an idiot and deserve to lose your money.
When the tech bubble popped nobody was trying to bail out the people who were long on the NASDAQ or who used margin to buy internet stocks.
Prices may have fallen substantially in the past year, BUT they are still higher than they would have been if housing prices had increased at a normal rate (i.e. kept pace with wage inflation) since the year 2000. So it's all relative.
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