Quote:
Originally Posted by Axeman
You had the government step in and write laws that forced these institutions to give out home loans to people that had no business getting them in an effort to drive up home ownerships in the country. That sparked off this whole mess in the late 90's
|
I totally agree with that but these companies wanted these people. Its what made housing prices rise and what made their stock rise. All built on the premise that if they foreclosed, someone else would come in and fill the gap but suddenly gaps weren't being filled and they were losing money instead of gaining.